law: The Regional Rural Banks Act, 1976
  33. Amendment of certain
  
  enactments
  1.  In
  
  the Reserve Bank of India Act, 1934,--
  a.  
  
    In
  
  section 2,--
   
  
   i.  
  
    After
  
  clause
  (civ), the following clause shall be
  
  inserted, namely:--
  (cv) "Regional Rural Bank" means a
  
  Regional Rural Bank established under section 3 of the Regional Rural Banks
  
  Act, 1976;';
   
  
   i.  
  
  
   
  
   ii.  
  
    After
  
  clause
  (e), the following clause shall be inserted,
  
  namely:--
  '(ea) "Sponsor Bank" means a
  
  Sponsor Bank as defined in the Regional Rural Banks Act, 1976;';
   
  
   i.  
  
  
   
  
   ii.  
  
  
   
  
   iii.  
  
    The
  
  existing clause (ei) shall be re-lettered as clause (eb);
  a.  
  b.  
  
    In
  
  section 45H, for the words "a co-operative bank", the words "a
  
  Regional Rural Bank or a co-operative bank" shall be substituted;
  c.  
  
    In
  
  section 46A, in sub-section (2), in clause (b),--
   
  
   i.  
  
    After
  
  the words "State co-operative banks", the words "or Regional
  
  Rural Banks" shall be inserted;
   
  
   ii.  
  
    Or
  
  the proviso, the following proviso, shall be substituted, namely:--
  "Provided that such loans and advances
  
  are fully guaranteed as to the re-payment of principal and payment of
  
  interest,--
   
  
   i.  
  
    In
  
  the case of loans and advances to State co-operative banks, by the State
  
  Government; and
   
  
   ii.  
  
    In
  
  the case of loans and advances to a Regional Rural Bank, by the Sponsor
  
  Bank.";
  a.  
  b.  
  c.  
  d.  
  
    In
  
  section 46B, in sub-section (2),--
   
  
   i.  
  
    After
  
  the words "State co-operative banks", the words "or Regional Rural
  
  Banks" shall be inserted;
   
  
   ii.  
  
    After
  
  the proviso, the following proviso shall be inserted namely:--
  "Provided further that no such loans or
  
  advances shall be made-
  a.  
  
    Except
  
  for the purpose of enabling the Regional Rural Banks to pay any dues in respect
  
  of bills of exchange and promissory notes purchased or re-discounted by the or
  
  loans and advances made to them by the Bank under section 17 and unless, in the
  
  opinion of the Bank, the Regional Rural Banks are unable to pay such dues in
  
  time owing to drought, famine or other natural calamities, and
  b.  
  
    Unless
  
  such loans and advances are fully guaranteed as to re-payment of the principal
  
  and payment of interest by the Sponsor Bank.".
  1.  
  2.  In
  
  the Industrial Disputes Act, 1947 (14 of 1947), in section 2, in clause (a), in
  
  sub-clause (i), after the words and figures "Food Corporation Act, 1964,
  
  or", the words and figures "a Regional Rural Bank established under
  
  section 3 of the Regional Rural Banks Act, 1976, or" shall be inserted.
  3.  In
  
  the Banking Regulation Act, 1949 (10 of 1949),--
  a.  
  
    In
  
  section 24, after sub-section (2A), the following sub-section shall be
  
  inserted, namely:--
  "(2B) The Reserve Bank may, by
  
  notification in the Official Gazette, vary the percentage referred to in
  
  sub-section (2A) in respect of a Regional Rural Bank established under section
  
  3 of the Regional Rural Banks Act, 1976.";
  a.  
  
  
  b.  
  
    In
  
  section 34A, in sub-section (3), for the words "and any subsidiary
  
  bank", the words and figures "a Regional Rural Bank established under
  
  section 3 of the Regional Rural Banks Act, 1976, and any subsidiary bank"
  
  shall be substituted;
  c.  
  
    In
  
  section 36AD, in sub-section (3), for the words "and any subsidiary
  
  bank", the words and figures "a Regional Rural Bank established under
  
  section 3 of the Regional Rural Banks Act, 1976, and any subsidiary bank"
  
  shall be substituted;
  d.  
  
    In
  
  section 51, for the words "or any other banking institution notified by
  
  the Central Government in this behalf", the words and figures "or a
  
  Regional Rural Bank established under section 3 of the Regional Rural Banks Act,
  
  1976, or any other banking institution notified by the Central Government in
  
  this behalf" shall be substituted.
  1.  
  2.  
  3.  
  4.    In
  
  the Banking Companies (Legal Practitioners' Clients' Accounts) Act, 1949 (45 of
  
  1949), in section 2, in clause (a), for the words "and any subsidiary
  
  bank", the words and figures "a Regional Rural Bank established under
  
  section 3 of the Regional Rural Banks Act, 1976, and any subsidiary bank"
  
  shall be substituted.
  5. In
  
  the Deposit Insurance Corporation Act, 1961(47 of 1961),--
  a.  
  
    In
  
  section 2,--
   
  
   i.  
  
    In
  
  clause (g),--
  a.  
  
    For
  
  the words "a banking company", the words "a Regional Rural Bank
  
  or a banking company" shall be substituted;
  b.  
  
    For
  
  the words "with a banking company", the words "with a Regional
  
  Rural Bank or with a banking company" shall be substituted;
   
  
   i.  
  
  
   
  
   ii.  
  
    In
  
  clause (i), after the words "banking company", the words "or a
  
  Regional Rural Bank" shall be inserted;
   
  
   iii.  
  
    After
  
  clause (m), the following clause shall be inserted, namely:--
  '(ma) "Regional Rural Bank" means a
  
  Regional Rural Bank established under section 3 of the Regional Rural Banks
  
  Act, 1976;';
  a.  
  b.  
  
    After
  
  section 11, the following section shall be inserted, namely:--
  "11A. Registration of Regional Rural
  
  Banks.
  The Corporation shall register every Regional
  
  Rural Bank before the expiry of thirty days from the date of its
  
  establishment.";
  a.  
  
  
  b.  
  
  
  c.  
  
    in
  
  section 13, after sub-section (2), the following sub-section shall be inserted,
  
  namely:--
  "(3) The provisions of clauses (a), (b),
  
  (c), (d) and (h) of sub-section (1) shall apply to a Regional Rural Bank as
  
  they apply to a banking company.";
  a.  
  b.  
  c.  
  d.  
  
    in
  
  sub-section (1) of section 14, for the words "banking company",
  
  wherever they occur, the words "banking company, Regional Rural Bank"
  
  shall be substituted.