Section 5(1)(ii) in The M.P. Shakari Krishi Aur Gramin Vikas Bank Adhiniyam 1999
(ii)the purpose of providing loans to a company or any other body corporate established, registered or constituted, as the case may be, under any law for the time being in force and approved for that purpose by the State Government, on the strength of such Government Guarantee and with or without other securities and other assets, for such periods as it may deem expedient.