Regional Rural Banks Act : Issued capital. Indian Bare Acts :

Regional Rural Banks Act,1976

Act No : 21

Section : Issued capital.

6. Issued capital.- 4*[(1) The issued capital of each Regional Rural Bank shall, in the first instance, be such as may be fixed by the Central Government in this behalf, but it shall in no case be less than twenty-five lakhs of rupees or exceed one crore of rupees.] (2) Of the capital issued by a Regional Rural Bank under sub- section (1), fifty per cent. shall be subscribed by the Central Government; fifteen per cent. by the concerned State Government and thirty-five per cent. by the Sponsor Bank. (3) The Board may, after consultation with the 5*[National Bank] concerned State Government and the Sponsor Bank and with the prior approval of the Central Government, from time to time, increase the issued capital of the Regional Rural Bank; and, where additional capital is issued, such capital shall also be subscribed in the same proportion as is specified in sub-section (2).