Amendment status not verified — confirm the current text below against the official source.
(1 The State Government may constitute a Guarantee Fund on such terms and conditions . as it may deem fit for the purpose of meeting. lasses that tay arise.on account of loans advanced by the State Development Bank and District Banks on the securities furnished in favour of the state Development Bank or transfered under the provisions of section 20° wot being fully recovered due io suche ircumstances as may be specified in the Rules. + (2) The State Development Bank ‘and District Banks shall contribute to ‘Guarantee Fund at such rates as may be prescribed. “+ GR) The Fund shalt be mainiained and wliliged in:such maiiner a may be presi