RRB Act 28Chapter VI · Miscellaneous
Section 28 · Indemnity of directors, etc
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(1) A director or a member of a committee of a Regional Rural
Bank shall not be responsible for any loss or expense caused to such bank by insufficiency or deficiency
of the value of, or title to, any property or security acquired or taken on behalf of a Regional Rural Bank
or by the insolvency or wrongful act of any customer or debtor or anything done in, or in relation to, the
execution of the duties of his office, unless such loss, expense, insufficiency or deficiency was due to any
wilful act or default on the part of such director or member.
(2) The Chairman of a Regional Rural Bank and every officer of the Central Government or State Government or an officer of the Reserve Bank 1 [or the National Bank] or the Sponsor Bank and every officer or other employee of a Regional Rural Bank shall be indemnified by such bank against all losses and expenses incurred by him in, or in relation to, the discharge of his duties except such as have been caused by his own wilful act or default.
(2) The Chairman of a Regional Rural Bank and every officer of the Central Government or State Government or an officer of the Reserve Bank 1 [or the National Bank] or the Sponsor Bank and every officer or other employee of a Regional Rural Bank shall be indemnified by such bank against all losses and expenses incurred by him in, or in relation to, the discharge of his duties except such as have been caused by his own wilful act or default.
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