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 33: Power to impose conditions for accommodation.
    In entering into any transaction 1[under this Act with a borrower], the National Bank may impose such conditions as it may think necessary or expedient for protecting the interests of the National Bank.
Notes:
1. Subs. by s. 19, ibid., for "under this Chapter with a borrowing institution" (w.e.f. 1-2-2001).
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