Section 34, National Bank for Agriculture and Rural Development Act, 1981 [S1S-0GH]

34. Grant of licence.—(1) An application for a licence to undertake the production of agricultural produce shall be made to the Registrar in Form C, accompanied by a fee of five hundred rupees. (2) The Registrar may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Registrar may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.