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The Regional Rural Banks Act, 1976

Chapter III — MANAGEMENT

Section 16Fees and allowances of directors and members of committees

Read in the full Act
Section 16: Fees and allowances of directors and members of committees

16. Fees and allowances of directors and members of committees

(1)

Every director and every member of a committee (other than the Chairman) shall be paid such fees and allowances as may be determined by the Central Government:

Provided that no fees shall be paid to any director, or member of a committee, if he is an officer of the Central Government, State Government, the Reserve Bank, [National Bank,] Sponsor Bank or any other bank.

(2)

The allowances payable to a director or a member of a committee, who is an officer of the Central Government, State Government, Reserve Bank, [National Bank,] Sponsor Bank or any other bank, shall be paid by the Government or bank by which such officer is employed; and the allowances and fees payable to any other director or member of a committee shall be payable by the concerned Regional Rural Bank.

Amendment notes (1)
  1. Ins w.e.f. 28-9-1988 Ins. by Act 1 of 1988, s. 10 (w.e.f. 28-9-1988).