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Section 3: Establishment and incorporation of National Bank for Agriculture and Rural Development.

The National Bank for Agriculture and Rural Development Act, 1981Central Act · Act 61 of 1981

(1) With effect from such date as the Central Government may, by notification in the Official Gazette, appoint, there shall be established for the purposes of this Act, a bank to be known as the National Bank for Agriculture and Rural Development.

(2) The Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may by that name sue and be sued.

(3) The head office of the National Bank shall be at [Mumbai] or at such other place as the Central Government may, by notification, specify.

(4) The National Bank may establish offices, branches or agencies at any place in India, and with the previous approval of the Central Government and in consultation with the Reserve Bank, at any place outside India.

Where this provision sits

ActThe National Bank for Agriculture and Rural Development Act, 1981
Section3
Marginal noteEstablishment and incorporation of National Bank for Agriculture and Rural Development.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted. . Subs. by s. 4, ibid., for "Bombay" (w.e.f. 15-3-2018).

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