Amendment status not verified — confirm the current text below against the official source.
(1) A co-operative society shall grant loans to its members only: Restrictions Provided that a co-operative society may, with the sanction of the on !endings. Registrar, grant, in the manner prescribed, loans to any other co-operative society which is not its member. (2) A co-operative society may grant loan to a member thereof belonging to such economically weaker sections as may be prescribed at a concessional rate of interest and against a lower scale of security, irrespective of the value of shares held by him.