Section 10A(2) in The Banking Regulation Act, 1949
(2)Not less than fifty-one per cent. of the total number of members of the Board of directors of a banking company shall consist of persons, who-(a)shall have special knowledge or practical experience in respect of one or more of the following matters, namely:-(i)accountancy,(ii)agriculture and rural economy,(iii)banking,(iv)co-operation,(v)economics,(vi)finance,(vii)law,(viii)small-scale industry,(ix)any other matter the special knowledge of, and practical experience in, which would, in the opinion of the Reserve Bank, be useful to the banking company:Provided that out of the aforesaid number of directors, not less than two shall be persons having special knowledge or practical experience in respect of agriculture and rural economy, co-operation or small-scale industry; and(b)shall not-
