| SECTIONS | National Bank for Agriculture and Rural Development Act, 1981 |
| | |
| | Preamble |
| | |
| | CHAPTER I : PRELIMINARY |
| 1. | Short title, extent and commencement |
| 2. | Definitions |
| | |
| | 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 |
| | |
| | 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 |
| | |
| | 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 |
| | |
| | CHAPTER V: BORROWINGS BY THE NATIONAL BANK |
| 19. | Borrowings by the National Bank |
| 20. | Borrowings in foreign currency |
| | |
| | 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 |
| | |
| | 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 |
| | |
| | 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 |
| | |
| | CHAPTER IX: STAFF |
| 50. | Staff of National Bank |
| | |
| | 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 |
| | |
| | First Schedule |
| | Second Schedule |
