Section 20 of The Small Industries Development Bank of India Act, 1989
The Small Industries Bank may receive gifts, grants, donations, benefactions or other monies from Government or any other source.
Summary
- The bank is allowed to receive various types of financial contributions to support its operations.
- These contributions can take the form of gifts, grants, donations, or benefactions.
- The funds can come directly from the government or from any other source.
Practical examples
FAQ
1. Can private citizens donate money to the bank?
Yes, the bank can receive gifts and donations from any other source, which includes private individuals.
2. Does the bank only get money from the government?
No, while it can receive government grants, it is also permitted to accept money from any other source.
3. What types of financial inputs are allowed under this section?
The bank can receive gifts, grants, donations, benefactions, and other monies.
Test yourself
Q1.Under Section 20 of The Small Industries Development Bank of India Act, 1989, from whom can the bank receive donations?
Q2.Which of the following forms of financial support is explicitly listed as acceptable under Section 20 of The Small Industries Development Bank of India Act, 1989?
Q3.Under Section 20 of The Small Industries Development Bank of India Act, 1989, are there restrictions mentioned on what foreign countries can donate?
Q4.Under Section 20 of The Small Industries Development Bank of India Act, 1989, what is the core purpose of this provision?