National Bank for Agriculture and Rural Development Act, 1981

The National Bank for Agriculture and Rural Development Act, 1981

राष्ट्रीय कृषि और ग्रामीण विकास बैंक अधिनियम, 1981

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	198161
Act Number:	61
Enactment Date:	1981-12-30
Act Year:	1981
Short Title:	The National Bank for Agriculture and Rural Development Act, 1981
Hindi Title:	राष्ट्रीय कृषि और ग्रामीण विकास बैंक अधिनियम, 1981
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
Enforcement Date:	01-05-1982
Notification:	1st May, 1982, vide notification No. S.O. 278(E), dated 21st April, 1982 (except sections 3, 16 and 18), see Gazette of India, Extraordinary, Part II, sec. 3(ii). 12th July, 1982, vide notification No. S.O. 484(E), dated 6th July, 1982 (in respect sections 3, 16 and 18), see Gazette of India, Extraordinary, Part II, sec. 3(ii).


Schedule 1. THE FIRST SCHEDULE Order Appendix Forms
Schedule 2. THE SECOND SCHEDULE. Order Appendix Forms

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Show all section The National Bank for Agriculture and Rural Development Act, 1981

CHAPTER I

PRELIMINARY

CHAPTER II

ESTABLISHMENT OF THE NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT AND CAPITAL THEREOF

CHAPTER III

MANAGEMENT OF THE NATIONAL BANK

CHAPTER IV

TRANSFER OF BUSINESS TO THE NATIONAL BANK

CHAPTER V

BORROWINGS BY THE NATIONAL BANK

CHAPTER VI

CREDIT FUNCTIONS OF THE NATIONAL BANK

CHAPTER VII

OTHER FUNCTIONS OF THE NATIONAL BANK

CHAPTER VIII

FUNDS, ACCOUNTS AND AUDIT

CHAPTER IX

STAFF

CHAPTER X

MISCELLANEOUS


Section 1. Short title, extent and commencement.
Section 2. Definitions.
Section 3. Establishment and incorporation of National Bank for Agriculture and Rural Development.
Section 4. Capital.
Section 5. Management.
Section 6. Board of Directors.
Section 7. Term of office of Chairman and other directors, retirement and payment of fees.
Section 8. Term of office of Managing Director and whole-time directors, conditions of service, etc.
Section 9. Disqualifications.
Section 10. Vacation and resignation of office by directors.
Section 11. Casual vacancy in the office of Managing Director.
Section 12. Meetings of Board.
Section 13. Committees of National Bank.
Section 14. Advisory Council.
Section 15. Member of Board or Committee thereof not to participate in meetings in certain cases.
Section 16. Transfer of assets and liabilities of Agricultural Refinance and Development Corporation.
Section 17. Dissolution of the Corporation and repeal of Act 10 of 1963.
Section 18. Transfer of business from Reserve Bank.
Section 19. Borrowings by the National Bank.
Section 20. Borrowings in foreign currency.
Section 21. Production and marketing credit.
Section 22. Conversion loan for production credit.
Section 23. Rescheduling of loans to artisans, small-scale industries, etc.
Section 24. Investment credit--medium term.
Section 25. Other investment credit.
Section 26. Purchase and sale of shares.
Section 27. Loans to State Governments for share capital contribution.
Section 27A. Loans to State Government, undertakings, etc.
Section 28. Security for credit.
Section 29. Amounts and securities to be held in trust.
Section 30. Direct loans.
Section 30A. Bills rediscounting.
Section 31. Commission.
Section 32. Issue of guarantees.
Section 33. Power to impose conditions for accommodation.
Section 34. Power to call for repayment before agreed period.
Section 35. National Bank to have access to records.
Section 36. Validity of loan or advance not to be questioned.
Section 37. National Bank not to grant loans or advances against its own bonds or debentures.
Section 37A. Prohibited business.
Section 38. Other functions of National Bank.
Section 38A. Promotion of subsidiaries.
Section 38B. Securitisation of debt.
Section 38C. Exemption from compulsory registration.
Section 39. Incidental powers.
Section 40. Deposits and investments.
Section 41. Credit information.
Section 42. National Rural Credit (Long Term Operations) Fund.
Section 43. National Rural Credit (Stabilisation) Fund.
Section 44. Research and Development Fund.
Section 45. Reserve Fund and other Funds.
Section 46. Preparation of balance-sheet, etc., of National Bank.
Section 47. Disposal of surplus.
Section 48. Audit.
Section 49. Returns.
Section 50. Staff of National Bank.
Section 51. Obligation as to fidelity and secrecy.
Section 52. Defects in appointment not to invalidate acts, etc.
Section 52A. Agreement with National Bank on appointment of directors to prevail.
Section 53. Protection of action taken under the Act.
Section 54. Indemnity of directors.
Section 55. [Omitted].
Section 56. Penalties.
Section 57. Offences by companies.
Section 58. Bankers' Books Evidence Act, 1891, to apply in relation to National Bank.
Section 59. Liquidation of National Bank.
Section 60. Power of Board to make regulations. Show Related Subordinates
Section 61. [Repealed.].
Section 62. Power to remove difficulty.


Schedule 1. THE FIRST SCHEDULE Order Appendix Forms
Schedule 2. THE SECOND SCHEDULE. Order Appendix Forms

Year	Description	Hindi Description	Files(Eng)	Files(Hindi)
12-07-1982	NABARD General Regulations 1982
08-03-1988	NABARD (Issue and management of Bonds) Regulations 1987
01-11-1993	NABARD Pension Regulations, 1993

Schedule 1. THE FIRST SCHEDULE

Schedule 2. THE SECOND SCHEDULE.