The Regional Rural Banks Act, 1976
Section 8. Management.
(1) Subject to the provisions of this Act, the general superintendence, direction and management of the affairs and business of a Regional Rural Bank shall vest in a Board of directors who may exercise all the powers and discharge all the functions which may be exercised or discharged by the Regional Rural Bank.
(2) In discharging its functions, the Board shall act on business principles and shall have due regard to public interest.
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