Act Info:
Preamble1 - NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT ACT, 1981
Chapter I Section1 - Short title, extent and commencement
Section2 - Definitions
Chapter II Section3 - Establishment and incorporation of National Bank for agriculture and Rural development
Chapter III Section4 - Capital
Section5 - Management
Section6 - Board of Directors
Section7 - Term of office of Chairman and other directors, retirement and payment of fees
Section8 - Term of office of Managing Director and whole time directors conditions of service etc.
Section9 - Disqualifications
Section10 - Vacation and resignation of office by directors
Section11 - Casual vacancy in the office of Managing Director
Section12 - Meetings of Board
Section13 - Committees of National Bank
Section14 - Advisory Council
Section15 - Member of Board or Committee thereof not to participate in meetings in certain cases
Chapter IV Section16 - Transfer of assets and liabilities of Agricultural Refinance and Development Corporation
Section17 - Dissolution of the Corporation and repeal of Act 10 of 1963
Section18 - Transfer of business from Reserve Bank
Chapter V Section19 - Borrowings by the National Bank
Section20 - Borrowings in foreign currency
Chapter VI Section21 - Production and marketing credit
Section22 - Conversion loan for production credit
Section23 - Rescheduling of loans artisans, small scale industries, etc.
Section24 - Investment credit Medium term
Section25 - Other investment credit
Section26 - Purchase and sale of shares
Section27 - Loans to State Government for share capital Contribution
Section27A - Loans to State Government, undertakings, etc.
Section28 - Security for credit
Section29 - Amounts and securities to be held in trust
Section30 - Direct loans
Section30A - Bills rediscounting
Section31 - Commission
Section32 - Issue of guarantees
Section33 - Power to impose conditions for accommodation
Section34 - Power to call for repayment before agreed period
Section35 - National Bank have access to records
Section36 - Validity of loan or advance not to be questioned
Section37 - National Bank not to grant loans or advances against its own bonds or debentures
Section37A - Prohibited business
Chapter VII Section38 - Other function of National Bank
Section38A - Promotion of subsidiaries
Section38B - Securitisation of debt
Section38C - Exemption from compulsory registration
Section39 - Incidental powers
Section40 - Deposits and investments
Section41 - Credit information
Chapter VIII Section42 - National Rural Credit (Long Term Operations) Fund
Section43 - National Rural Credit (Stabilisation) Fund
Section44 - Research and Development Fund
Section45 - Reserve fund and other funds
Section46 - Preparation of balance-sheet, etc. , of National Bank
Section47 - Disposal of surplus
Section48 - Audit
Section49 - Returns
Chapter IX Section50 - Staff of National Bank
Chapter X Section51 - Obligations as to fidelity and secrecy
Section52 - Defects in appointment not to invalidate acts etc.
Section52A - Agreement with National Bank on appointment of directors to prevail
Section53 - Protection of action taken under the Act
Section54 - Indemnity of directors
Section55 - [Omitted]
Section56 - Penalties
Section57 - Offences by companies
Section58 - Bankers Boos Evidence Act, 1891, to apply in relation to National Bank
Section59 - Liquidation of National Bank
Section60 - Power of Board to make regulation
Section61 - Amendment of certain enactments [Omitted]
Section62 - Power to remove difficulty
ScheduleI - FIRST SCHEDULE
ScheduleII - SECOND SCHEDULE
Amending Act1 - NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (AMENDMENT) ACT, 2003