Section 32
Issue of guarantees.
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[32. Issue of guarantees.-- The National Bank may guarantee, subject to such directions as may be
issued by the Board, from time to time, deferred payments in connection with the purchase of capital
goods or for any other purpose for giving effect to the provisions of this Act, due from any person or class
of persons, whether incorporated or not.]
Notes
1. Subs. by s. 18, ibid., for section 32 (w.e.f. 1-2-2001).