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National Bank for Agriculture and Rural Development Act, 1981


38B. Securitisation of debt.-

Notwithstanding anything contained in this Act, the National Bank may -

a.     create one or more trusts and transfer loans and advances granted by it, with or without the securities, to such trusts, for consideration;

b.    set aside loans or advances held by the National Bank and issue and sell securities based upon such loans or advances so set aside in the form of debt obligations, trust certificates of beneficial interest or other instruments, by whatever name called, and act as a trustee for the holders of such securities.



National Bank for Agriculture and Rural Development Act, 1981 Back




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