Section 5(1) in The M.P. Shakari Krishi Aur Gramin Vikas Bank Adhiniyam 1999
(1)With the previous sanction of the State Government and the trustee, the State Development Bank may issue debentures of one or more denominations for-(i)such periods and at such rates of interest as it may deem expedient against one or more securities held or partly held or partly to be acquired or other assets taken by it and other assets and securities of District Development Bank transferred or deemed to have been transferred to it under the provisions of Section 20;(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.
