Section 62(1) in The Manipur Co-operative Societies Act, 1976
(1)Notwithstanding anything contained in any law for the time being in force, but subject to such conditions as the State Government, by general or special order, may specify in this behalf, the State Government may-(a)give loans to a society;(b)guarantee the payment of the principal or debentures issued by a society, or of interest thereon, or the repayment of the share capital of a society to its members; or the payment of dividend thereon at such rates as may be specified by the State;(c)guarantee the repayment of loans given by a co-operative bank to a society;(d)guarantee the repayment of the principal of, and payment of interest on, loans and advances given by the Reserve Bank of India, or the Industrial Finance Corporation of India, of any other authority constituted under any law for the time being in force; or(e)provided financial assistance, in any other form (including subsidies), to a society.
