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Section 2 – The Regional Rural Banks Act,1976

The Regional Rural Banks Act,1976

Section 2. Definitions

In this Act, unless the context otherwise requires,–

(a) “Board”, in relation to a Regional Rural Bank, means the Board of directors of that Regional Rural Bank;

(b) “Chairman”, in relation to a Regional Rural Bank, means the individual appointed or re-appointed under sub-section (1) of section 11 as the Chairman of that bank;

(c) “Director”, in relation to a Regional Rural Bank, means a member of the Board of that bank;

(d) “Notified area” means the local limits, specified under sub-section (1) of section 3, within which a Regional Rural Bank shall operate;

(e) “Prescribed” means prescribed by rules made under this Act;

(f) “Regional Rural Bank” means a Regional Rural Bank established under sub-section (1) of section 3;

(g) “Sponsor Bank”, in relation to a Regional Rural Bank, means a bank by which such Regional Rural Bank has been sponsored;

(h) “State Government” means,–

(i) In relation to a Regional Rural Bank established in a Union territory, the Central Government;

(ii) In relation to a Regional Rural Bank established in a State, the Government of that State;

(i) words and expressions used herein and not defined but defined in the Reserve Bank of India Act,1934 (2 of 1934 ), shall have the meanings respectively assigned to them in that Act;

(j) words and expressions used herein and not defined either in this Act or in the Reserve Bank of India Act,1934 (2 of 1934), but defined in the Banking Regulation Act,1949 (10 of 1949), shall have the meanings respectively assigned to them in the Banking Regulation Act,1949.

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The Regional Rural Banks Act,1976

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