Regional Rural Banks Act, 1976 · Chapter II: Incorporation and Capital of Regional Rural Banks
Section 3: Establishment and incorporation of Regional Rural Banks
(1) The Central Government may, if requested so to do by a Sponsor Bank, by notification in the Official Gazette, establish in a State or Union territory, one or more Regional Rural Banks with such name as may be specified in the notification and may, by the said or subsequent notification, specify the local limits within which each Regional Rural Bank shall operate.
(2) Every Regional Rural Bank shall be a body corporate with perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract and may sue and be sued in its name.
[(3) It shall be the duty of the Sponsor Bank to aid and assist the Regional Rural Bank, sponsored by it, by—
(a) subscribing to the share capital of such Regional Rural Bank;
(b) training personnel of such Regional Rural Bank; and
(c) providing such managerial and financial assistance to such Regional Rural Bank 2 ***, as may be mutually agreed upon between the Sponsor Bank and the Regional Rural Bank:
3 * * * * *]
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 3
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M/S Bharti Airtel Limited v. A.S. Raghavendra
Whether the respondent would or would not come within the definitional stipulation of a “workman” as laid out under Section 2(s), Industrial Disputes Act, 1947.
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The General Manager, M/S Barsua Iron Ore Mines v. The Vice President United Mines Mazdoor Union and Ors.
Respondent initially declared his date of birth as 27.12.1948. Later, in descriptive roll, he changed his initially recorded date of birth i.e. 27.12.1948 to 12.03.1955. Based on his declaration at the time of initial…
- M/S. Delhi International Airport Pvt. Ltd. v. Union of India & Ors.
- Chandra Prakash Singh & Ors. v. Chairman, Purvanchal Gramin Bank & Ors.
- Steel Authority of India Ltd. and Ors. Etc. Etc. v. National Union Water Front Workers and Ors, Etc. Etc.
- Kshetriya Kisan Gramin Bank v. D.B. Sharma and Ors.
- Panjkajesh v. Tulsi Gramin Bank and Anr.
- Prathama Bank, Head Office Moradabad, Through Its Chairman v. Vijay Kumar Goel & Anr.