Deposit Insurance and Credit Guarantee Corporation Act : Corporation to act as agent of Central

Deposit Insurance and Credit Guarantee Corporation Act ,1961

Act No : 47

Section : Corporation to act as agent of Central Government.

21B. Corporation to act as agent of Central Government. The Corporation may act as agent for the Central Government-- (i) in guaranteeing the due performance by any small-scale industrial concern or other institution or undertaking or categories of institutions or undertakings approved by the Central Government in this behalf, of its, or their, obligations to any credit institution in respect of loans and advances made or other credit facilities provided to it, or them, by such credit institution, and (ii) in making, as such agent, of payments in connection with such guarantee.]