| SECTIONS |
National
Bank for Agriculture and Rural Development Act, 1981 |
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Preamble |
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CHAPTER I : PRELIMINARY |
| 1. |
Short
title, extent and commencement |
| 2. |
Definitions |
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CHAPTER II: ESTABLISHMENT OF
THE NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
AND CAPITAL THEREOF |
| 3. |
Establishment
and incorporation of National Bank for Agriculture and
Rural Development |
| 4. |
Capital |
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CHAPTER III: MANAGEMENT OF THE NATIONAL BANK |
| 5. |
Management |
| 6. |
Board
of Directors |
| 7. |
Term
of office of Chairman and other directors, retirement
and payment of fees |
| 8. |
Term
of office of Managing Director and whole-time directors,
conditions of service, etc |
| 9. |
Disqualifications |
| 10. |
Vacation
and resignation of office by directors |
| 11. |
Casual
vacancy in the office of Managing Director |
| 12. |
Meetings
of Board |
| 13. |
Committees
of National Bank |
| 14. |
Advisory
Council |
| 15. |
Member
of Board or Committee thereof not to participate in meetings
in certain cases |
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CHAPTER IV: TRANSFER OF BUSINESS TO THE NATIONAL
BANK |
| 16. |
Transfer
of assets and liabilities of Agricultural Refinance and
Development Corporation |
| 17. |
Dissolution
of the Corporation and repeal of Act 10 of 1963 |
| 18. |
Transfer
of business from Reserve Bank |
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CHAPTER V: BORROWINGS BY THE NATIONAL BANK |
| 19. |
Borrowings
by the National Bank |
| 20. |
Borrowings
in foreign currency |
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CHAPTER VI: CREDIT FUNCTIONS OF THE NATIONAL
BANK |
| 21. |
Production
and marketing credit |
| 22. |
Conversion
loan for production credit |
| 23. |
Rescheduling
of loans to artisans, small-scale industries, etc |
| 24. |
Investment
credit--medium term |
| 25. |
Other
investment credit |
| 26. |
Purchase
and sale of shares |
| 27. |
Loans
to State Governments for share capital contribution |
| 27-A. |
Loans
to State Government, undertakings etc |
| 28. |
Security
for credit |
| 29. |
Amounts
and securities to be held in trust |
| 30. |
Direct
loans |
| 30-A. |
Bills
rediscounting |
| 31. |
Commission |
| 32. |
Issue
of guarantees |
| 33. |
Power
to impose conditions for accommodation |
| 34. |
Power
to call for repayment before agreed period |
| 35. |
National
Bank to have access to records |
| 36. |
Validity
of loan or advance not to be questioned |
| 37. |
National
Bank not to grant loans or advances against its own bonds
or debentures |
| 37-A. |
Prohibited
business |
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CHAPTER VII: OTHER FUNCTIONS OF THE NATIONAL
BANK |
| 38. |
Other
functions of National Bank |
| 38-A. |
Promotion
of subsidiaries |
| 38-B. |
Securitisation
of debt |
| 38-C. |
Exemption
from compulsory registration |
| 39. |
Incidental
powers |
| 40. |
Deposits
and investments |
| 41. |
Credit
information |
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CHAPTER VIII: FUNDS, ACCOUNTS AND AUDIT |
| 42. |
National
Rural Credit (Long Term Operations) Fund |
| 43. |
National
Rural Credit (Stabilisation) Fund |
| 44. |
Research
and Development Fund |
| 45. |
Reserve
Fund and other Funds |
| 46. |
Preparation
of balance-sheet, etc., of National Bank |
| 47. |
Disposal
of surplus |
| 48. |
Audit |
| 49. |
Returns |
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CHAPTER IX: STAFF |
| 50. |
Staff
of National Bank |
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CHAPTER X: MISCELLANEOUS |
| 51. |
Obligation
as to fidelity and secrecy |
| 52. |
Defects
in appointment not to invalidate acts, etc |
| 52-A. |
Agreement
with National Bank on appointment of directors to prevail |
| 53. |
Protection
of action taken under the Act |
| 54. |
Indemnity
of directors |
| 55. |
Exemption
from income-tax, etc |
| 56. |
Penalties |
| 57. |
Offences
by companies |
| 58. |
Bankers'
Books Evidence Act, 1891, to apply in relation to National
Bank |
| 59. |
Liquidation
of National Bank |
| 60. |
Power
of Board to make regulations |
| 61. |
Amended
of certain enactments |
| 62. |
Power
to remove difficulty |
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First
Schedule |
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Second
Schedule |
