Section 5(5) in Karnataka Village Offices Abolition Act, 1961
(5)Nothing in sub--section (3) shall apply to transfer in favour of the State Government, a co--operative society and a bank as security for loans granted for improvements of such land or for raising crops on such land or for buying cattle or agricultural implements for the cultivation of such land.Explanation.--'bank' means,--(i)a banking company as defined in the Banking Regulation Act, 1949 (Central Act 10 of 1949);(ii)the State Bank of India constituted under the State Bank of India Act, 1955 (Central Act 23 of 1955);(iii)a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (Central Act 38 of 1959);(iv)a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Central Act 5 of 1970);(v)a regional rural bank constituted under the Regional Rural Banks Act, 1976 (Central Act 21 of 1976);(vi)the Agricultural Refinance and Development Corporation constituted under the Agricultural Refinance and Development Corporation Act, 1963 (Central Act 10 of 1963);(vii)the Agricultural Finance Corporation Limited, a company incorporated under the Companies Act, 1956 (Central Act 1 of 1956).
