Amendment status not verified — confirm the current text below against the official source.
The Board of the State Land Development Bank shall have a general pOWer of supervision over Land Development Banks and may, with the previous sanction of the State Government, make regulations, not inconsistent with this Act or the rules made thereunder, for 9.11 or any of the following matters, namelyfl (a) for the inspection of the account books and proceedings of the Land Development Banks ; (b) for the submieeion of returns and reports by such banks in respect of their transactions ; (c) for the periedica‘i eettlement of accounts between such banks and the State Land Development Bank being accounts relating to the payment of the amounts recovered by such banks on nmrtgages tmnsfeyred to the State Land Develop- ment Bank ; (d) for the form in which applications to such banks for loans shall be made and for the valuation of properties offered as security for such loans ; (e) for the investment of moneys realised from the mortgagor: ; (f) the conditions of service of employees of such benks ; (g) the programme and policy to be followed by such banks for making loans ; 5h) the types and extent of security to be obtained by such banks for advancing loans ; ii"; generally, to: the ?urpose of safeguarding the interest of the parties, farthemnee of activities of such banks, and carrying out the yurpeses of this Chapter. (‘BHAP'E‘EE XI}, OFFENCES AND ?ENALTIES