Amendment status not verified — confirm the current text below against the official source.
Panchayat may raise loans and form a sinking fund.— A Panchayat may, with the previous sanction of the Government and subject to the conditions imposed by it from time to time and subject to the execution of any work or for the purpose of carrying out any of the provisions of this Act and form a sinking fund in the prescribed manner for the repayment of such loans.