Section 128 in Mizoram Cooperative Societies Act, 2006
128. Guarantee by state government.
- It shall be lawful for the co-operative bank to honour the quarantee provided by government towards the principal amount or interest or both on the loans an advances sanctioned by the co-operative bank subject to the maximum amount as may be fixed by t e government on such terms and conditions as it may deem fit. It shall, however, be the endeavour of he state government to gradually withdraw from providing any guarantee to co-operative banks i the years to come which period may be decided by the government, in any case such period all not exceed ten years from the date of enactment of this Act.
