Explanation of regulations
denish
(Querist) 24 August 2012
This query is : Resolved
Govt. of India has made regulations (service rule)and published in gazette of India and directed to every regional rural bank to adopt it as service regulations by the board of directors. As per RRB Act Govt. will make such regulations with consultation with National Bank and Sponsor Banks. Who will interpret/explain/clarify the regulation if any query is necessary to be sought and which provision of indian constitution apply to power to explain/interpret. Whether interpretation given by National Bank has legal validity or not ?
RAJU O.F.,
(Expert) 27 August 2012
You may take up the problems with Reserve Bank of India, as all banks in India are governed by RBI.