Section 4 in The Reserve Bank Of India General Regulations, 1949
4. No Director or Member to deal with matters with which he is personally concerned .-(i) Every Director and every member who is directly or indirectly concerned or interested in any contract or arrangement entered into by or on behalf of the Bank shall disclose the nature of his interest at the meeting of the Central Board or the Local Board, as the case may be, at which the contract or arrangement is determined on, if his interest then exists, or in any other case at the next meeting of the Central Board or the Local Board, as the case may be, after the acquisition of his interest or the making of the contract or arrangement.
(ii)No Director, no member and no member of the committee of the Central Board shall, as such, vote on any contract or arrangement in which he is either directly or indirectly concerned or interested and if he does so his vote shall not be counted.
