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


1[32. Issue of guarantees.-- The National Bank may guarantee, subject to such directions as may be
issued by the Board, from time to time, deferred payments in connection with the purchase of capital
goods or for any other purpose for giving effect to the provisions of this Act, due from any person or class
of persons, whether incorporated or not.]

LAWGIST

# 32 Issue of guarantees