National Bank for Agriculture and Rural Development Act : Issue of guarantees. Indian Bare Acts :

National Bank for Agriculture and Rural Development Act,1981

Act No : 61

Section : Issue of guarantees.

32. Issue of guarantees.- The National Bank may guarantee, with the prior approval of the Central Government and on such terms and conditions as may be agreed upon, deferred payments in connection with the purchase of capital goods-- (i) due from a co-operative society approved by the Reserve Bank in this behalf or such other institutions which may, on the recommendation of the Reserve Bank, be approved by the Central Government in this behalf, or (ii) due from any other person and guaranteed to the National Bank by a State land development bank or a State co- operative bank or a scheduled bank.