In section 6 of the principal Act , in sub- section (1),-
(i) in clause (b), for the words " a Deputy Governor", the words " a Deputy Governor or any other officer " shall be substituted;
(ii) for clause (d) , the following clause shall be substituted, namely:-
"(d) five directors nominated by the Central Government in consultation with the Reserve Bank, three of whom shall be persons having special knowledge of commercial banking, insurance, commerce, industry or finance and two of whom shall be persons having special knowledge of, or experience in , co-operative banking or co-operative movement, and one of the directors shall be an officer of Government or of the Reserve Bank or an officer or other employee of the Corporation or a director, an officer or other employee of a banking company or a co-operative bank or otherwise actively connected with a banking company or a co-operative bank."