Section 7 in The U.P. Avas Evam Vikas Parishad (Raising of Loans) Rules 1972
7. Financial arrangement with any bank or other financial institutions.
(1)Notwithstanding anything contained in rule 3 the Board may in pursuance of a resolution passed by it and with the previous approval of the State Government enter into financial arrangement with any bank or other Financial institution approved by the State Government or with the Life Insurance Corporation of India established under section 3 of the Life Insurance Corporation Act, 1956, for the promotion and execution of any housing or improvement scheme under the Act.(2)The conditions and limitations subject to which the Board shall inter in to financial arrangement under sub-rule (1) shall be such as may be determined by the State Government at the time of granting of approval.
