National Bank for Financing Infrastructure and Development Act, 2021

§ 1 Short title, extent and commencement

§ 2 Definitions

§ 3 Establishment and incorporation of Institution

§ 4 Purposes and objectives of Institution

§ 5 Authorised share capital

§ 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

§ 17 Functions and powers of Institution

§ 18 Prohibited business

§ 19 Related party transactions

§ 20 Performance review of Institution

§ 21 Grants and contribution

§ 22 Concessional rate of Government guarantee

§ 23 Hedging costs

§ 24 Disposal of profit accruing to Institution, to reserve fund

§ 25 Preparation of balance sheet and accounts

§ 26 Audit

§ 27 Returns and report

§ 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