Section 27A
Loans to State Government, undertakings, etc.
The National Bank for Agriculture and Rural Development Act, 1981
About this Act
An 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.
1[27A. Loans to State Government, undertakings, etc.-- The National Bank may make loans and
advances to any State Government or a corporation owned or controlled by the State Government or to
any other person or class of persons, as may be approved by the Board, repayable on the expiry of a fixed
period not exceeding twenty-five years from the date of making of such loans and advances and subject to
such terms and conditions, as may be approved by the Board, for the purpose of development of
infrastructure facilities for promotion of agriculture and rural development.]
Notes
1. Ins. by s. 14, ibid. (w.e.f. 1-2-2001).