Lawgist38Other functions of National Bank
The National Bank--
(i) shall co-ordinate its operations and the operations of various institutions engaged in the field of rural credit and maintain expert staff to study all problems relating to agriculture and rural development and be available for consultation to the Central Government, the Reserve Bank, the State Governments and the other institutions engaged in the field of rural development;
(ii) may act as the agent for the Central Government or a State Government or the Reserve Bank in the transaction of any business in respect of loans and advances granted or to be granted, or bonds or debentures purchased or subscribed for, or to be purchased or subscribed for;
(iii) may provide facilities for training, for dissemination of information and the promotion of research including the undertaking of studies, researches, techno-economic and other surveys in the field of rural banking, agriculture and rural development and it may for the said purposes 1[make loans or advances or grants] including grants by way of provision for fellowships and chairs to any institution.
2[(iv) may provide technical, legal, financial, marketing and administrative assistance to any person engaged in agriculture and rural development activities;
(v) may provide consultancy services in the field of agriculture and rural development and other related matters in or outside India, on such terms and against such remuneration, as may be agreed upon;
(vi) may perform the functions entrusted to or required of the National Bank by any other law for the time being in force; and
(vii) do any other kind of business or undertake any other kind of activity which the Central Government or the Reserve Bank may authorise.]
Download our fully-offline, High speed android app.- Click here
1. Subs. by Act 55 of 2000, s. 23, for "make grants" (w.e.f. 1-2-2001).
2. Ins. by s. 23, ibid. (w.e.f. 1-2-2001).
