Act Number: 61

Act Name: The National Bank for Agriculture and Rural Development Act, 1981

Year: 1981

Enactment Date: 1981-12-30

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 27A: Loans to State Government, undertakings, etc.
    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).
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