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 30: Direct loans.
    1[30. Direct loans.-- The National Bank may, in exceptional circumstances to be recorded in writing by the Board, by itself or in association with other financial institutions or scheduled banks, make loans and advances, otherwise than by way of refinance to any person or class of persons or body corporate, on such terms and conditions, including security and repayable within such period not exceeding twenty-five years, as the National Bank may deem fit.]
Notes:
1. Subs. by s. 17, ibid., for section 30 (w.e.f. 1-2-2001).
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