law: The Small Industries Development Bank of India Act, 1989 
  6. Constitution of Board 
  1.     
  
    The
  
  Board shall consist of the following, namely:-- 
  a.     
  
    The
  
  Chairman of the Development Bank, if he is a whole-time Chairman, and if he is
  
  not a whole-time Chairman, the Managing Director of that Bank, shall be the ex
  
  officio Chairman of the Small Industries Bank;
  b.    
  
    Two
  
  Directors to be nominated by the Central Government from amongst its officials;
  c.     
  
    One
  
  Director to be nominated by the Reserve Bank from amongst its officials of, or
  
  above, the rank of the Executive Director;
  d.    
  
    Ten
  
  Directors to be nominated by the Development Bank, of whom-
                       
  
   i.        
  
    One
  
  shall be from amongst its officials;
                      
  
   ii.        
  
    One
  
  representing the National Bank for Agriculture and Rural Development
  
  established under section 3 of the National Bank for Agriculture and Rural
  
  Development Act, 1981 (61 of 1981);
                     
  
   iii.        
  
    One
  
  representing the Khadi and Village Industries Commission established under
  
  section 4 of the Khadi and Village Industries Commission Act, 1956 (61 of
  
  1981);
                     
  
   iv.        
  
    Seven
  
  from amongst the experts in industry in small-scale sector or co-operative
  
  sector or persons having such special knowledge or professional experience as
  
  the Development Bank may consider desirable or useful to the Small Industries
  
  Bank, or persons representing scheduled banks, State Financial Corporation,
  
  State Small Industries Corporations or the National Small Industries
  
  Corporation;
  a.     
  
  
  b.     
  
  
  c.     
  
  
  d.     
  
  
  e.     
  
    The
  
  Managing Director, ex officio Director.
  1.     
  
  
  2.     
  
    Every
  
  Director referred to in clause (b), clause (c) or sub-clause (i) of clause (d)
  
  shall hold during the pleasure of the authority nominating him.
  3.     
  
    Every
  
  Director, other than those referred to in sub-section (2), shall hold office
  
  for such term not exceeding three years as the Development Bank may specify in
  
  this behalf and shall be eligible for reappointment;
  Provided that no such Director shall hold
  
  office continuously for a period exceeding six years.
  1.     
  
  
  2.     
  
  
  3.     
  
  
  4.     
  
    The
  
  Directors shall be paid such fees and allowances as may be prescribed for
  
  attending the meetings of the Board or any of its Committees and for attending
  
  to any other work of the Small Industries Bank.