Section 48 in The West Bengal Co-Operative Societies Act, 1983
48. Power of State Government to give financial assistance. -
Notwithstanding anything contained in any other law for the time being in force, the State Government may, subject to the rules,-(i)grant loans to, take shares in, or give financial assistance in any other form to, any co-operative society;(ii)guarantee the repayment of share capital of any co-operative society and dividends thereon at such rates as may be specified by the State Government; and(iii)guarantee, the repayment of principal and payment of interest on loans and advances to any co-operative society.
