5. Authorised capital
The authorised capital of each Regional Rural Bank shall be [two thousand crore of rupees, divided into two hundred crore of fully paid-up shares of ten rupees each]:
Provided that the Central Government may, after consultation with the [National Bank] and the Sponsor Bank, increase or reduce such authorised capital; so, however, that the authorised capital shall not be reduced below [one crore of rupees, and the shares shall be, in all cases, fully paid-up shares of ten rupees each].
Amendment notes (3)
- Subs w.e.f. 4-2-2016 Subs. by Act 14 of 2015, s. 3, for "five crores of rupees divided into five lakhs of fully paid-up shares of one hundred rupees each" (w.e.f. 4-2-2016).
- Subs w.e.f. 28-9-1988 Subs. by Act 1 of 1988, s. 5, for "Reserve Bank" (w.e.f. 28-9-1988).
- Subs w.e.f. 4-2-2016 Subs. by Act 14 of 2015, s. 3, for "twenty-five lakhs of rupees, and the shares shall be, in all cases, fully paid-up shares of one hundred rupees each" (w.e.f. 4-2-2016).