Title : Court, Tribunal, Etc., Not to Require Production of Report on Inspection Made by the Reserve Bank
State : Central
Year : 1968
Notwithstanding anything contained in the Indian Evidence Act, 1872 (1 of 1872), or any other law for the time being in force, no Court, Tribunal or other authority shall have power to require the Corporation, the Reserve Bank or any other officer of the Corporation or the Reserve Bank to produce before such Court, Tribunal or other authority the report of any inspection, or any copy thereof, made by the Reserve Bank in pursuance of section 35 of the Banking Regulation Act, 1949(10 of 1949) , as applied to the Corporation under section 34. View Complete Act List Judgments citing this sectionTitle : Vacation of Seats of Directors
State : Central
Year : 1968
(1) If a director,- (a) becomes subject to any disqualification specified in section 12, or (b) is absent without leave of the Board for more than three consecutive meeting thereof, his seat shall thereupon become vacant, (2) The managing director or any other director may resign his office by giving notice thereof in writing to the authority by which he was appointed or nominated, or if he is a director elected under clause (d) of section 9, to the Board, and on such resignation being accepted, shall be deemed to have vacated his office. View Complete Act List Judgments citing this sectionTitle : Meetings of Board and Committees
State : Central
Year : 1968
(1) The Board or the Executive Committee or any other committee shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed. (2) Three directors personally present at any meeting of the Board and two members personally present at a meeting of a committee shall be the quorum for such meeting (3) If, for any reason, the Chairman of the Board or of any committee is unable to attend any meeting of the Board or the Committee, as the case may be, the members present at the meeting shall elect one of them to preside at the meeting. (4) If for any reason a director nominated under clause (a), clause (b) or clause (c) of section 9 is unable to attend any meeting of the Board or of any committee..... View Complete Act List Judgments citing this sectionTitle : Borrowing by the Corporation
State : Central
Year : 1968
Subject to the provisions of this Act , the Corporation may, for the purposes of carrying out of its functions under this Act,- (a) re- discount; with or sell to; the Reserve Bank or borrow money from that Bank and for that purpose, the Corporation shall be deemed to be a State Co- operative Bank within the meaning of clause 2 (a) , clause 2(b), clause 2(bb) and clause (4) of section 17 , sub- section (2) of section 46A and sub- section (2) of section 46B of the Reserve Bank of India Act, 1934 (2 of 1934); (b) borrow money from the Central Government or the State Government or such other authority or institution as approved in this behalf by the Central Government, on such terms and conditions as may be agreed upon. View Complete Act List Judgments citing this sectionTitle : Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949, Not to Apply Except as Otherwise Provided
State : Central
Year : 1968
Save as otherwise provided in this Act, nothing contained in the Reserve Bank of India Act, 1934 (2 of 1934) and the Banking Regulations Act, 1949 (10 of 1949), shall apply to or in relation to the Corporation. View Complete Act List Judgments citing this sectionTitle : Certain Provisions of the Banking Regulations Act, 1949 to Apply to the Corporation
State : Central
Year : 1968
The provisions of sections 8, 9, 20, 20A, 21, 23, 24, 26, 34A, 35, [excluding sub-section (4)], 35A, clause (a) of sub-section (1) of section 36, and sections 46,47,50 and 54 of the Banking Regulation Act, 1949 (10 of 1949), shall apply to or in relation to the Corporation as they apply to or in relation to co-operative banks. View Complete Act List Judgments citing this sectionTitle : The Bankers Books Evidence Act,1891 to Apply
State : Central
Year : 1968
The Bankers' Books Evidence Act, 1891(18 of 1891), shall apply to or in relation to the Corporation as it applies to or in relation to a bank as defined in section 2 of that Act. View Complete Act List Judgments citing this sectionTitle : Defects in Appointments Not to Invalidate Acts , Etc.
State : Central
Year : 1968
(1) No act or proceeding of the Board or of any of its committees shall be questioned or be invalid on the ground merely of the existence of any vacancy in, or any defect in the constitution of, the Board or the committee , as the case may be. (2) No act done by any person actin in good faith as a director or member of any committee shall be deemed to be invalid merely on the ground that he was disqualified to be a director or member or that there was any other defect in his nomination or appointment. View Complete Act List Judgments citing this sectionTitle : Power of the Central Government to Make Rules
State : Central
Year : 1968
(1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the purposes of this Act (2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely;- (a) functions which shall be discharged by the Executive Committee (b) rules of procedure with regard to the transaction of business at a meeting of the Board. (c) rules of procedure with regard to the transaction of business at a meeting of any committee constituted by the Board. (d) the procedure to be followed by the appropriate Government or the authority specified by the appropriate Government for issuing the certificate under section 28. (e) the manner in which the general meeting shall be..... View Complete Act List Judgments citing this sectionTitle : Business Which the Corporation May Transact
State : Central
Year : 1968
Subject to the provisions of this Act, the Corporation may transact the following kinds of business, namely:- (a) the granting of loans and advances, repayable within a period, not exceeding five years, to agriculturists, agricultural marketing societies, agricultural processing societies, Central Co- operative Banks, co- operative farming societies or primary agricultural credit societies for agricultural operations or for such other operations connected therewith as the Board may by regulations determine; (b) the drawing, making , accepting, discounting, buying, selling , collecting and dallying in bills of exchange , hundies, promissory notes, coupons, drafts, bills of lading, railway receipts, warrants, debentures, certificates, scripts and other instruments, and securities..... View Complete Act List Judgments citing this section