Section 45(3) in The M.P. Swayatta Sahakarita Adhiniyam, 1999
(3)A co-operative may borrow funds only from any Scheduled Bank or financial institution as defined in the Reserve Bank of India Act, 1934 (No. 2 of 1934) or Co-operative Bank or Regional Rural Bank as defined in the Banking Regulation Act, 1949 (No. 10 of 1949) and to such extent and under such conditions as may be specified in the bye- laws.
