Section List

17/2021 - The National Bank for Financing Infrastructure and Development Act, 2021 ▶

Act Number: 17

Act Name: The National Bank for Financing Infrastructure and Development Act, 2021

Year: 2021

Enactment Date: 2021-03-28

Long Title: An Act to establish the National Bank for Financing Infrastructure and Development to support the development of longterm non-recourse infrastructure financing in India including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section Number	Title	Actions
3	Establishment and incorporation of Institution.
4	Purposes and objectives of Institution.
5	Authorised share capital.
6	Board of Directors.
10	Disqualification and removal of directors from office.
11	Removal of Chairperson and other directors in certain cases.
12	Vacation and resignation of office by directors.
13	Meetings of Board.
14	Defects in appointment not to invalidate acts, etc.
15	Committees of Board.
16	Disclosure of interest by members of Board or of committees.
17	Functions and powers of Institution.
18	Prohibited business.
19	Related party transactions.
20	Performance review of Institution.
21	Grants and contribution.
22	Concessional rate of Government guarantee.
23	Hedging costs.
24	Disposal of profit accruing to Institution, to reserve fund.
25	Preparation of balance sheet and accounts.
26	Audit.
27	Returns and report.
28	Receivables to be held in trust.
29	Setting up of other development financial institution.
30	Officers and employees.
31	Powers of Central Government to make rules.
32	Powers of Board to make regulations.
33	Rules and regulations to be laid before Parliament.
34	Protection of action taken in good faith.
35	Sanction for enquiry, inquiry, investigation and prosecution.
36	Appointment of directors by Institution to prevail.
37	Validity of loan or advance not to be questioned.
38	Obligations as to fidelity and secrecy.
39	Adjudication.
40	Indemnity of directors.
41	Bankers’ Books of Evidence Act, 1891 to apply in relation to the Institution.
42	Section 34A and 36AD of the Banking Regulation Act, 1949 to apply to Institution.
43	Liquidation of Institutions.
44	Powers of Central Government to issue directions.
45	Overriding effect of this Act.
46	Power to remove difficulties.
47	Amendment of Act 2 of 1934.
48	Amendment of Act 10 of 1949.
1	Short title, extent and commencement.
2	Definitions.
7	Management
8	Delegation of powers.
9	Term of office and other terms and conditions of service of Chairperson and other directors of Board.