The National Bank for Financing Infrastructure and Development Act, 2021
[Act No. 17 of 2021]
[28th March, 2021]
| Contents |
| Title |
National Bank for Financing Infrastructure and Development Act, 2021 |
| Sections |
Particulars |
| Chapter I |
Preliminary |
| 1. |
Short title, extent and commencement |
| 2. |
Definitions |
| Chapter II |
Establishment and Incorporation of Institution |
| 3. |
Establishment and incorporation of Institution |
| 4. |
Purposes and objectives of Institution |
| 5. |
Authorised share capital |
| Chapter III |
Board of Directors and Management |
| 6. |
Board of Directors |
| 7. |
Management |
| 8. |
Delegation of powers |
| 9. |
Term of office and other terms and conditions of service of Chairperson and other directors of Board |
| 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 |
| Chapter IV |
Activities of Institution |
| 17. |
Functions and powers of Institution |
| 18. |
Prohibited business |
| 19. |
Related party transactions |
| 20. |
Performance review of Institution |
| Chapter V |
Government Grants, Guarantees and other Concessions |
| 21. |
Grants and contribution |
| 22. |
Concessional rate of Government guarantee |
| 23. |
Hedging costs |
| Chapter VI |
Accounts, Audit and Report |
| 24. |
Disposal of profit accruing to Institution, to reserve fund |
| 25. |
Preparation of balance sheet and accounts |
| 26. |
Audit |
| 27. |
Returns and report |
| Chapter VII |
Miscellaneous |
| 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 |
| The Schedules |
|
| First Schedule |
Declaration of Fidelity and Secrecy |
| Second Schedule |
Amendments to The Reserve Bank of India Act, 1934 |
| Third Schedule |
Amendments to The Banking Regulation Act, 1949 |
