Section 40(4) in Andhra Pradesh Co-Operative Societies Rules, 1964
(4)In this rule, the term "short term loans" means a loan repayable from the sale proceeds of the next harvest as soon as it is realised or within one year from the date of the grant of the loans whichever period is longer.[41A. Percentage of loans to small farmers, etc.. - Subject to such directions as the Reserve Bank of India may give to Co-operative Banks in this behalf, Primary Agricultural Credit Societies shall, during a co-operative year, disburse to small farmers as defined in the Explanation under clause (a) of sub-section (3) of Section 47 of the Andhra Pradesh Co-operative Societies Act, 1946, fifty per cent of the total amount borrowed by them from the co-operative financial Institutions, for granting [loans] [Added by G.O.Ms. No. 48, Plg. & Co-Operative (Co-op.VI), dated 28-1-1972.][Added by G.O.Ms.No. 37, Agriculture & Coop. (Co-Operative IV), dated 28-1-2002.] to their members during a co-operative year, so however that the amount to any such loans that may be granted to each of their members whether or not he is a small farmer, shall not in the aggregate exceed such amount or amounts as the Government may, from time to time, by notification in the Andhra Pradesh Gazette, specify in relation to the various classes of members and having regard to the purposes for which loans are required.[41B. Issue of loans by means of a cheque. - Every Society shall disburse amounts to any of its members exceeding Rs.1000/- invariably by way of a cheque or a negotiable instrument such as a draft, pay order etc.] [Substituted by G.O.Ms.No. 37, Agriculture & Coop. (Co-Operative IV), dated 28.1.2002.][41C. Sanctions of loans in certain cases. - (1) If the Committee of an agricultural credit society fails to render service to the members within 7 days from the date of order issued under sub-section (3) of Section 22 directing the Committee to render such service or if it is brought to the notice of the Registrar that the Committee is not sanctioning loans to the members without valid reasons, the Registrar shall direct the Chief Executive of the society or any other person authorised by him to process the loan applications of the members.
