Section 10A of the Act requires the Board of directors of a banking company to include persons with professional or other experience. Of the directors who must have special knowledge or practical experience in specified fields, the proviso requires that not less than how many shall be persons having such expertise in agriculture and rural economy, co-operation or small-scale industry?

Section 10A requires that 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 having special knowledge or practical experience in fields such as accountancy, agriculture and rural economy, banking, co-operation, economics, finance, law and small-scale industry. The proviso specifically mandates that, out of those 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. This composition requirement aims to bring diverse, sector-relevant expertise into bank governance, reflecting India’s priority-sector and developmental banking objectives.