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National Bank for Agriculture and Rural Development Act, 1981 Complete Act

State: Central

Year: 1981

.....shall stand dissolved. The Bill also provides for changes of a supplemental, incidental or consequential nature in the Reserve Bank of India Act, 1934,the Banking Regulation Act, 1949the Industrial Disputes Act. 1947andthe Payment of Bonus Act, 1965. 4. The Notes on clauses appended to the Bill explain the provisions of the Bill.-See Gaz, of India, 18-9-1981, Pt. II.S.2,Ext.p.683. 1An Act to establish a development bank to be known as the National Bank for Agriculture and Rural Development for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows :- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEPIENT (1)This Act may be called the National Bank for Agriculture and Rural Development Act, 1981 . (2) It extends to the whole of India. (3) It shall.....

National Bank for Agriculture and Rural Development Act, 1981 Chapter VI

Title: Credit Functions of the National Bank

State: Central

Year: 1981

.....(Amendment) Act, 2003. 2.Words "to any State Co-operative bank" substituted by National Bankfor Agriculture and Rural Development (Amendment) Act, 2003. Section 22 - Conversion loan for production credit 1[22. Conversion loan for production credit. -- Where the National Bank is satisfied that owing to drought, famine or other natural calamities, military operations or enemy action, any State co-operative bank, central co-operative bank, regional rural bank or any such financial institution or any financial institution falling under any such class of financial institutions, as may be approved by the Reserve Bank in this behalf, requires assistance under this section, it may provide to such bank or institution such financial assistance as it may deem fit by way of making loans and advances repayable on the expiry of fixed periods not exceeding seven years and on such terms and conditions as may be specified in this behalf by the National Bank: Provided that loans and advances may be made under this section only for the purpose of enabling the borrowing bank or institution,-- (a) to pay any dues to the National Bank for credit extended for financing agricultural.....

National Bank for Agriculture and Rural Development Act, 1981 Section 25

Title: Other Investment Credit

State: Central

Year: 1981

.....where it is considered necessary so to do in connection with any financial assistance under clause (a) or clause (b) or clause (c) to a State land development bank or a State co-operative bank or a scheduled bank, loans and advanced repayable on demand or on the expiry of a fixed period not exceeding eighteen months, by way of refinance1[or otherwise] to such bank and also rescheduling the payment of such loans and advances for such period as the National Bank may deem fit. (2) The provisions of this section shall be in addition to , and not in derogation of the provisions of section 21 and section 24. ________________________ 1. Inserted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000).