Reserve Bank of India Act, 1934

Section - 10 - Disqualifications of Directors and members of Local Boards

Disqualifications of Directors and members of Local Boards.

10. (1) No person may be a Director or a member of a Local Board who-

(a)- is a salaried Government official, or
(b)- is, or at any time has been, adjudicated an insolvent, or has suspended payment or has compounded with his creditors, or
(c)- is found lunatic or becomes of unsound mind, or
(d)- is an officer or employee of any bank, or
[(e)- is a director of a banking company within the meaning of clause (c) of section 5 of the Banking [Regulation] Act, 1949 (10 of 1949) or of a co-operative ba .... To read the full section download the app from Google Play store