law: National Bank for Agriculture and Rural Development Act, 1981 
  Chapter III:
  
  Management of the National Bank 
  5. Management.- 
  1.     
  
    The
  
  general superintendence, direction and management of the affairs and business
  
  of the National Bank shall vest in a Board of Directors, which shall exercise
  
  all powers and do all acts and things which may be exercised or done by the
  
  National Bank.
  2.     
  
    Subject
  
  to the provisions of this Act, the Board in discharging its functions, shall
  
  act on business principles with due regard to public interest.
  3.     
  
    Subject
  
  to the provisions of sub-section (1) and save as otherwise provided in the
  
  regulations made under this Act, the Managing Director shall also have powers
  
  of general superintendence, direction and management of the affairs and
  
  business of the National Bank and may also exercise all powers and do all acts
  
  and things which may be exercised or done by the National Bank:
  Provided that during the period of any casual
  
  vacancy of the nature referred to in section 11 in the office of the Managing
  
  Director, the Chairman may also exercise the powers and discharge the functions
  
  of the Managing Director untill the person appointed by the Central Government
  
  under section 11 to act as Managing Director enters upon his office.
  1.     
  
  
  2.     
  
  
  3.     
  
  
  4.     
  
    Any
  
  whole-time director appointed under sub-section (3) of section 6 shall assist
  
  the Managing Director in the discharge of his functions under subsection (3)
  
  and perform such duties as the Board may entrust or delegate to him.
  5.     
  
    In
  
  the discharge of his powers and functions under sub- section (3), the Managing
  
  Director shall follow such directions as the Chairman may give.
  6.     
  
    In
  
  the discharge of its functions under this Act, the National Bank shall be
  
  guided by such directions in matters of policy involving public interest as the
  
  Central Government, in consultation with the Reserve Bank, or the Reserve Bank,
  
  may give in writing.