Section 16 in West Bengal Co-operative Societies Act, 2006
(16)"Co-operative agriculture and rural development bank" means a primary Co-operative society, the object of which include the creation of funds for lending money to its members on long-term basis and also to the beneficiaries of long-term loan on short-term basis for improvement of agricultural land and for other productive purposes and for construction of house and higher education of members or their wards.Explanation.- In this clause(i)"long-term" shall mean a term exceeding five years;(ii)"productive purposes" shall mean such effort, activity or construction as may be provided in the by-laws;
