Advocate OS
Start free

In force

The National Bank for Financing Infrastructure and Development Act, 2021

48 sections · As amended up to 2026-08

Sections

  1. VII — MISCELLANEOUS
  2. 1Amendment of section 5
  3. 2Amendment of section 18
  4. 3Amendment of section 34A
  5. 4Debt securities, including bonds and debentures, issued by the Institution should be considered as e
  6. 5Section 5
  7. 6The notes on clauses explain in detail the various provisions contained in the Bill
  8. 7The Bill seeks to achieve the above objectives
  9. III — BOARD OF DIRECTORS AND MANAGEMENT
  10. 8Delegation of powers
  11. 9Term of office and other terms and conditions of service of Chairperson and other directors of Board
  12. 10Disqualification and removal of directors from office
  13. 11Removal of Chairperson and other directors in certain cases
  14. 12Vacation and resignation of office by directors
  15. 13Meeting of Board
  16. 14Defects in appointment not to invalidate acts, etc
  17. 15Committees of Board
  18. 16Disclosure of interest by members of Board or of committees
  19. IV — ACTIVITIES OF INSTITUTION
  20. 17Functions and powers of Institution
  21. 18Prohibited business
  22. 19Related party transactions
  23. 20Performance review of Institution
  24. V — GOVERNMENT GRANTS, GUARANTEES AND OTHER CONCESSIONS
  25. 21Grants and contribution
  26. 22Concessional rate of Government guarantee
  27. 23Hedging costs
  28. VI — ACCOUNTS, AUDIT AND REPORT
  29. 24Disposal of profits accruing to Institution, to reserve fund
  30. 25Preparation of balance-sheet and accounts
  31. 26Audit
  32. 27Returns and report
  33. VII — MISCELLANEOUS
  34. 28Receivables to be held in trust
  35. 29Setting up of other development financial institution
  36. 30Officers and employees
  37. 31Power of Central Government to make rules
  38. 32Power of Board to make regulations
  39. 33Rules and regulations to be laid before Parliament
  40. 34Protection of action taken in good faith
  41. 35Sanction for enquiry, inquiry investigation and prosecution
  42. 36Appointment of directors by Institution to prevail
  43. 37Validity of loan or advance not to be questioned
  44. 38Obligations as to fidelity and secrecy
  45. 39Adjudication
  46. 40Indemnity of directors
  47. 41Bankers' Books of Evidence Act, 1891 to apply in relation to the Institution
  48. 42Sections 34A and 36AD of the Banking Regulation Act, 1949 (10 of 1949) to apply to Institution
  49. 43Liquidation of Institution
  50. 44Power of Central Government to issue directions
  51. 45Overriding effect of this Act
  52. 46Power to remove difficulties
  53. 47Amendment of Act 2 of 1934
  54. 48Amendment of Act 10 of 1949