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22-B Power of the State Bank to supersede Board of Directors of microfinance banks

1) Where the State Bank is satisfied that (a) the association of the Board of Directors, by whatever name called, of a microfinance bank, is or is likely to be detrimental to the interests of the microfinance bank or its depositors or otherwise undesirable; or (b) for all or any of the reasons mentioned in sub-section (1) of section 22A, it...

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