institutions to charge interest on loans/advances/overdrafts or any other financial accommodation and the power of Courts to examine the rigour of such transactions ... regulate the interest rates structure on which advances or other financial accommodation, may be made.
Section 27 consists power on the Reserve Bank to call
primary object or principal business of which is to provide financial accommodation to its members for agricultural purposes or for purposes connected with agricultural activities ... Banking Regulation Act, 1949 is confined to providing of financial accommodation to the members of such a society for agricultural purposes or for purposes connected
have its
main object or principal business to advance financial
accommodation to its members for agricultural purposes or for
the purposes connected with the agricultural ... primary object or principal business of
which is to provide financial accommodation to its
members for agricultural purposes or for purposes
connected with agricultural activities
institutions to charge interest on loans/advances/overdrafts or any other financial accommodation and the power of courts to examine the rigour of such transaction ... regulate the interest rates structure on which advances or other financial accommodation may be made.
34. Section 27 confers power on the reserve Bank
primary object or principal business of which is to provide financial accommodation to its members for agricultural purposes or for purposes connected with agricultural activities ... Banking Regulation Act, 1949 is confined to providing of financial accommodation to the members of such a society for agricultural purposes or for purposes connected
paid by it in cash. Accordingly the petitioner contended that no financial accommodation accrued to it and there was no loss of revenue ... since the same was available as modvat credit and no financial accommodation was accrued to the petitioner. As such the petitioner vide its application dated
approached the plaintiff-bank and sought for financial accommodation for the first respondent's business. The first respondent is a partnership firm comprising defendants ... third agreement was executed by defendants Nos. 1 to 4 for financial accommodation under pledge of goods and other assets to the tune
such institution if it is
satisfied that the institution has adequate financial resources,
accommodation, library, qualified staff, laboratory and that it fulfils such
other conditions ... about the
matters enumerated therein, namely, that the institution has adequate
financial resources, accommodation, library, qualified staff, laboratory and
that it fulfills other conditions required
shall,--
(a) if it is satisfied that such institution
has adequate financial resources,
accommodation, library, qualified staff,
laboratory and that it fulfils such other
conditions ... satisfied that such recognised
institution has adequate financial
resources, accommodation, library,
qualified staff, laboratory and that it
fulfils such other conditions required for
proper conduct
operative society, the primary object of which is to
provide financial accommodation to its members
and includes a co-operative land mortgage bank;
(cciia ... primary object or principal business of
which is to provide financial accommodation to
its members for agricultural purposes or for
purposes connected with agricultural activities
