Section 93(17) in The Maharashtra Cooperative Societies Rules, 1961
(17)The applicant, while receiving the amount of the loan or the first installment of the loan, shall purchase shares of the Bank to such extent as may be required under the by-laws of the Bank. The Co-operative Agriculture and Rural Multipurpose Development Bank shall issue a receipt to the applicant giving full particulars of the amounts paid by him from time to time.
