law: The Regional Rural Banks Act, 1976
  8. Management
  1.  Subject
  
  to the provisions of this Act, the general superintendence, direction and
  
  management of the affairs and business of a Regional Rural Bank shall vest in a
  
  Board of directors who may exercise all the powers and discharge all the functions
  
  which may be exercised or discharged by the Regional Rural Bank.
  2.  In
  
  discharging its functions, the Board shall Act on business principles and shall
  
  have due regard to public interest.
   
  
   i.  
  
    The
  
  Board of directors shall consist of the Chairman appointed under sub-section
  
  (1) of section 11, and the following other members, namely:--
  a.  
  
    Not
  
  more than three directors, to be nominated by the Central Government;
  b.  
  
    Not
  
  more than two directors, to be nominated by the concerned State Government; and
  c.  
  
    Not
  
  more than three directors, to be nominated by the Sponsor Bank.
  1.  
   
  
   i.  
  
  
   
  
   ii.  
  
    The
  
  Central Government may increase the number of members of the Board; so,
  
  however, that the number of directors does not exceed fifteen in the aggregate
  
  and also prescribe the manner in which the additional number may be filled in.