The Regional Rural Banks Act, 1976
Section 12. Disqualifications.
A person shall be disqualified for being appointed or, as the case may be, nominated as, and for being, a director, if he--
(a) is, or, at any time has been, adjudged insolvent or has suspended payment of his debt or has compounded with his creditors, or
(b) is of unsound mind and stands so declared by a competent court, or
(c) is, or has been, convicted of an offence which, in the opinion of the Central Government, involves moral turpitude.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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