Section 8
Management.
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) Subject to the provisions of this Act, the general superintendence, direction
and management of the affairs and business of a Regional Rural Bank shall vest in a Board of directors
who may exercise all the powers and discharge all the functions which may be exercised or discharged by
the Regional Rural Bank.
(2) In discharging its functions, the Board shall act on business principles and shall have due regard to public interest.
(2) In discharging its functions, the Board shall act on business principles and shall have due regard to public interest.