Section 20
Annual report to be furnished to the shareholders.
The Regional Rural Banks Act, 1976
About this Act
An Act to provide for the incorporation, regulation and winding up of Regional Rural Banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental thereto.
1
[(1)] Every Regional Rural Bank shall,
within 2
[three months from the date of the closure of its accounting year, or such further period, not
exceeding three months, as may be permitted by the Reserve Bank], send to each of its shareholders a
report as to its working and activities during the accounting year immediately preceding together with a
copy of its balance-sheet, profit and loss account and the auditor’s report in relation to the accounts of the
said accounting year.
3 [(2) The Central Government shall cause every auditor’s report and report on the working and activities of each Regional Rural Bank to be laid, as soon as may be after they are received, before each House of Parliament.]
3 [(2) The Central Government shall cause every auditor’s report and report on the working and activities of each Regional Rural Bank to be laid, as soon as may be after they are received, before each House of Parliament.]
Notes
1. S. 20 renumbered as sub-section (1) thereof by Act 81 of 1985, s. 11 (w.e.f. 1-5-1986).
2. Subs. by Act 1 of 1988, s. 12, for "sixty days from the date of closure of its accounting year" (w.e.f. 28-9-1988).
3. Ins. by Act 81 of 1985, s. 11 (w.e.f. 1-5-1986).
2. Subs. by Act 1 of 1988, s. 12, for "sixty days from the date of closure of its accounting year" (w.e.f. 28-9-1988).
3. Ins. by Act 81 of 1985, s. 11 (w.e.f. 1-5-1986).