Amendment status not verified — confirm the current text below against the official source.
Provisions for guarantee fund to meet certain losses.- (1) It shall be competent for the State Government to constitute one or more guarantee funds on such terms and conditions as it may deem fit, for the purpose of meeting losses that might arise as a result of loans being made by 7[Agriculture and Rural Development Banks] on titles to immovable property subsequently found to be defective or for any other purpose under this Act for Act No. 16 of 1987, effective from 16th November, 1987.