law: National Bank for Agriculture and Rural Development Act, 1981 
  13. Committees of National Bank.- 
  1.     
  
    The
  
  Board may constitute an Executive Committee consisting of such number of
  
  directors as may be prescribed.
  2.     
  
    The
  
  Executive Committee shall discharge shall discharge such function as may be
  
  prescribed or may be delegated to it by the Board.
  3.     
  
    The
  
  Board may constitute such other committees, whether consisting wholly of
  
  directors or wholly of other persons or partly of directors and partly of other
  
  persons as it thinks fit and for such purposes as it may decide and every
  
  committee so constituted shall discharge such functions as may be delegated to
  
  it by the Board.
  4.     
  
    The
  
  Executive 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.
  5.     
  
    The
  
  times and places at which any committee constituted under subsection (3) shall
  
  meet, the rules of procedure which such committee shall observe in regard to
  
  the transaction of business at its meetings, and the fees and allowances which
  
  may be paid to the members of such committee for attending the meetings of the
  
  committee and for attending to any other work of the National Bank shall be
  
  such as may be specified by that Bank.