Powers of Central Government to make rules
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 31 of the National Bank for Financing Infrastructure and Development Act, 2021 deals with powers of Central Government to make rules. The Central Government may, by notification, make rules to carry out the provisions of this Act. The Act was enacted on 28 Mar 2021.
(1) The Central Government may, by notification, make rules to carry out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:--
(a) institutions that may hold shares of the Institution under sub-section (3) of section 5;
(b) the manner of election of directors by shareholders under clause (e) of sub-section (1) of section 6;
(c) the terms and conditions of induction of independent directors to the Board under sub-section (5) of section 6;
(d) the fees and reimbursements in respect of independent directors under sub-section (3), and the term of office and other terms and conditions of service of, the Chairperson, Managing Director, Deputy Managing Directors and other directors of Board under sub-section (5), of section 9;
(e) manner of disclosure of interest by members of Board and of committees under sub-section (1) of section 16;
(f) the threshold for determination of beneficial interest by directors of the Institution or any relative of such director under the Explanation to sub-section (3) of section 18;
(g) conditions subject to which the Institution may enter into a contract or an arrangement under sub-section (1) of section 19;
(h) the parameters on the basis of which the external agency shall review the performance of the Institution under sub-section (2) of section 20;
(i) the rate of fees for Government under section 22;
(j) the form and manner in which the balance-sheet and accounts of the Institution shall be prepared under sub-section (1) of section 25;
(k) any other matter which is to be, or may be, prescribed.
Section 31, The National Bank for Financing Infrastructure and Development Act, 2021 (Act 17 of 2021).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
- s. 5 Authorised share capital
- s. 6 Board of Directors
- s. 9 Term of office and other terms and conditions of service of Chairperson and other directors of Board
- s. 16 Disclosure of interest by members of Board or of committees
- s. 18 Prohibited business
- s. 19 Related party transactions
- s. 20 Performance review of Institution
- s. 22 Concessional rate of Government guarantee
- s. 25 Preparation of balance sheet and accounts
Made under this section, and citing it
2 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Questions about Section 31
What does Section 31 of the National Bank for Financing Infrastructure and Development Act deal with?
Section 31 of the National Bank for Financing Infrastructure and Development Act is headed "Powers of Central Government to make rules". The Central Government may, by notification, make rules to carry out the provisions of this Act.
How do I find court cases under Section 31 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 31, section 31 National Bank for Financing Infrastructure and Development Act, section 31 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 31 of the National Bank for Financing Infrastructure and Development Act, and has it changed?
Its own text turns on section 5 (Authorised share capital), section 6 (Board of Directors), section 9 (Term of office and other terms and conditions of service of Chairperson and other directors of Board), section 16 (Disclosure of interest by members of Board or of committees), and on 5 further provisions, so none of them can safely be read on its own. The rules and notifications made under it are where it actually bites, and there are 2: most recently National Bank for Financing Infrastructure and Development General (Amendment) Rules, 2022 (2022), then National Bank for Financing Infrastructure and Development General Rules, 2022 (2022).
When was Section 31 of the National Bank for Financing Infrastructure and Development Act enacted?
Section 31 of the National Bank for Financing Infrastructure and Development Act, cited as National Bank for Financing Infrastructure and Development Act 31, 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 24 Oct 2026. This page is not a substitute for legal advice.