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 10: Term of office of director.
    1 [10. Term of office of director.--A director nominated under clause (a) of sub-section (1) of section 9 shall hold office during the pleasure of the Central Government and for such term, not exceeding three years, from the date on which he assumes his office, as the Central Government may specify at the time of his nomination and shall be eligible for renomination:
     Provided that no such director shall hold office either continuously or intermittently for a period exceeding six years.]
Notes:
1. Subs. by s. 6, ibid., for section 10 (w.e.f. 4-2-2016).
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