Section 9(1) in The U.P. Sahkari Gram Vikas Banks Act, 1964
(1)The State Government may constitute a Guarantee Fund on such terms and conditions as it may deem fit, for the purpose of meeting losses that might arise on account of loans advanced by the [Gram Vikas Banks] [Substituted by U.P. Act No. 19 of 1994.] on the security of mortgages not being fully recovered due to such circumstances as may be prescribed.
