National Bank for Agriculture and Rural Development Act,1981
Act No : 61
Section :
Board of Directors.
6. Board of Directors. (1) The Board of Directors of the National Bank shall consist of the following, namely:-- (a) a Chairman; (b) two directors from amongst experts in rural economics, rural development, handicrafts and other rural crafts, village and cottage industries and small-scale industries or in any other matter, the special knowledge or professional experience in which is considered by the Central Government as useful to the National Bank; (c) three directors out of whom two shall be persons with experience in the working of co-operative banks and one shall be a person with experience in the working of commercial banks; (d) three directors from out of the directors of the Reserve Bank; (e) three directors from amongst the officials of the Central Government; (f) two directors from amongst the officials of the State Governments; and (g) a Managing Director. (2) The Chairman and other directors shall be appointed by the Central Government in consultation with the Reserve Bank: 2*[Provided that no such consultation shall be necessary in the case of directors appointed under clause (e) of sub-section (1).] (3) Where the Central Government is satisfied, in consultation with the Reserve Bank 3*** that it is necessary so to do, it may appoint one or more whole-time directors with such designations as may be deemed appropriate by that Government and any whole-time director so appointed shall also be a member of the Board: 4* * * * * ---------------------------------------------------------------------- 1. Ins. by Act 66 of 1988, s. 43 (w.e.f. 30-12-1988). 2. Omitted by Act 81 of 1985, s. 17 (w.e.f. 1-5-1986) and ins. by Act 66 of 1988, s. 44 (w.e.f. 30-12-1988). 3. Certain words omitted by Act 81 of 1985, s. 17 (w.e.f. 1-5-1986). 4. Proviso omitted by s. 17, ibid. (w.e.f. 1-5-1986). 320
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