Section 43(3) in The Punjab Co-operative Societies Rules, 1963
(3)No Co-operative Society shall accept loans or deposits whether from members or non-members at a rate of interest which exceed by more than three per cent the interest paid on similar types of deposits or loans by the Central Co-operative Bank within whose area of operation the Co-operative Society is situated except that the Registrar may by general or special order grant exemption or relaxation to any class of Co-operative Societies or individuals Co-op Society from the operation of this rule.
