The National Bank for Agriculture and Rural Development Act

Production and marketing credit

Conversion loan for production credit

Rescheduling of loans to artisans, small-scale industries, etc

Investment credit--medium term

Other investment credit

Purchase and sale of shares

Loans to State Governments for share capital contribution

Loans to State Government, undertakings, etc

Security for credit

Amounts and securities to be held in trust

Direct loans

Bills rediscounting

Commission

Issue of guarantees

Power to impose conditions for accommodation

Power to call for repayment before agreed period

National Bank to have access to records

Validity of loan or advance not to be questioned

National Bank not to grant loans or advances against its own bonds or debentures

Prohibited business


CREDIT FUNCTIONS OF THE NATIONAL BANK


[30A. Bills rediscounting.--The National Bank may rediscount bills of exchange and promissory
notes made, drawn, accepted or endorsed by any company or body corporate concerned with agriculture
and rural development presented by a scheduled bank, a State co-operative bank, State land development
bank, regional rural bank or any other institution or class of institutions approved by the Board.]


LAWGIST

# 30A Bills rediscounting