A [Gram Panchayat] [Substituted by U.P. Act No. 9 of 1994.] may borrow money from the State Government or with the prior sanction of the Prescribed Authority and subject to such conditions as may be prescribed from any financial corporation established by law or any scheduled bank or the Uttar Pradesh Co-operative Bank or a District Co-operative Bank or from any other [Gram Panchayat] [Substituted by U.P. Act No. 9 of 1994.] to carry out any of the purposes of this Act.
