Disposal of profit accruing to Institution, to reserve fund
Commencement. 19th April, 2021- Sections 2, sub-sections (1), (2) and (4) of section 3, 4 to 14, sub-section (3) of section 15, 16 to 23 and 25 to 48 vide notification No. S.O. 1657(E), dated 16th April, 2021, see Gazette of India, Extraordinary, Part II, sec. 3 (ii).
Section 24 of the National Bank for Financing Infrastructure and Development Act, 2021 deals with disposal of profit accruing to Institution, to reserve fund. The Institution shall establish a reserve fund to which may be transferred such sums as the Board may deem fit out of the annual profits accruing to the Institution: Provided that the sums to be transferred under this sub-section shall not be less than twenty per cent. The Act was enacted on 28 Mar 2021.
(1) The Institution shall establish a reserve fund to which may be transferred such sums as the Board may deem fit out of the annual profits accruing to the Institution:
Provided that the sums to be transferred under this sub-section shall not be less than twenty per cent. of the annual profits accruing to the Institution.
(2) After making provisions for bad and doubtful debts, depreciation of assets and for all other matters for which provision is necessary or expedient or which is usually provided for by bankers and for the reserve fund referred to in sub-section (1), and after transferring a part of the profit to such other reserves or funds as may be considered appropriate, the Board may out of its net profits propose a dividend.
Section 24, The National Bank for Financing Infrastructure and Development Act, 2021 (Act 17 of 2021).
Made under this section, and citing it
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 24
What does Section 24 of the National Bank for Financing Infrastructure and Development Act deal with?
Section 24 of the National Bank for Financing Infrastructure and Development Act is headed "Disposal of profit accruing to Institution, to reserve fund". The Institution shall establish a reserve fund to which may be transferred such sums as the Board may deem fit out of the annual profits accruing to the Institution: Provided that the sums to be transferred under this sub-section shall not be less than twenty per cent.
How do I find court cases under Section 24 of the National Bank for Financing Infrastructure and Development Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: National Bank for Financing Infrastructure and Development Act 24, section 24 National Bank for Financing Infrastructure and Development Act, section 24 of the National Bank for Financing Infrastructure and Development Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 24 of the National Bank for Financing Infrastructure and Development Act, and has it changed?
One instrument names it without being made under it, most recently National Bank for Financing Infrastructure and Development General (Amendment) Rules, 2022 (2022).
When was Section 24 of the National Bank for Financing Infrastructure and Development Act enacted?
Section 24 of the National Bank for Financing Infrastructure and Development Act, cited as National Bank for Financing Infrastructure and Development Act 24, was enacted on 28 Mar 2021 as Act 17 of 2021. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.