Section 23D
Liquidation of Regional Rural Banks.
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[23D. Liquidation of Regional Rural Banks.--Where a notification is issued for the amalgamation
of Regional Rural Banks under sub-section (1) of section 23A, the Central Government may, by a further
notification in the Official Gazette, direct that on such date, as may be specified therein, the transferor
Regional Rural Banks, which by reason of amalgamation will cease to function, shall stand dissolved and
such direction shall take effect notwithstanding anything to the contrary contained in section 26.]
Notes
1. Ins. by Act 1 of 1988, s. 13 (w.e.f. 28-9-1988).