Section 16 in The Bihar Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1977
16. Power of co-operative societies to borrow from banks.
- Notwithstanding anything contained in the Bihar and Orissa Co-operative Societies Act, 1935 it shall be lawful for any co-operative society to borrow from a bank:Provided that in the interest of promotion and growth of co-operative society the State Government may make such provision in the Rules as may be necessary from time to time to restrict the extent to which a Bank lend in areas adequately served by co-operatives.
