Act Number: 21

Act Name: The Regional Rural Banks Act, 1976

Year: 1976

Enactment Date: 1976-02-09

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 4: Offices and agencies.
    (1) A Regional Rural Bank shall have its head office at such place in the notified area as the Central Government may, after consultation with the 1 [National Bank] and the Sponsor Bank, specify by notification in the Official Gazette.
     (2) A Regional Rural Bank may, if it is of opinion that it is necessary so to do, establish its branches or agencies at any place in the notified area.
Notes:
1. Subs. by Act 1 of 1988, s. 4, for "Reserve Bank" (w.e.f. 28-9-1988).
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