Vidhi Codex

Bare Act

Agricultural Credit (Provision of Facilities) Act, Gujarat.Year 1979

Finance197928 sections

This law regulates how banks provide financial assistance to farmers in Gujarat. It removes legal barriers that usually stop farmers from mortgaging their land or crops to secure loans. By allowing agriculturists to pledge their property to banks, the Act ensures they can access necessary funds for farming, emergencies, or development projects. It applies to all banks and co-operatives operating in the state, making it easier for farmers to get the credit they need to support their agricultural activities and livelihoods.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions
  3. 3. Removal of restrictions on alienation of land by agriculturists in favour of banks.
  4. 4. Charge on crop and other movable property in favour of a bank.
  5. 5. Creation of charge on land in favour of a bank by declaration
  6. 6. Notice of creation of charge and mortgage in favour of bank to be given to co-operative society.
  7. 7. Priority of charges and mortgages in favour of a Bank, Government and Co-operative Society
  8. 8. Exemption from registration of charge or mortgage in favour of bank.
  9. 9. Noting of charge or mortgage created in favour of bank in Record of Rights.
  10. 10. Restrictions on sale of land by agriculturist borrower.
  11. 11. Recovery of dues of bank through authorised officer.
  12. 12. Rights of bank to acquire and dispose of land or interest therein.
  13. 13. Exemption to banks from restrictions on acquisition of land in excess of ceiling.
  14. 14. Land not vesting in Government to be charged for unrecovered dues in certain cases.
  15. 15. Recovery of dues in respect of financial assistance to carry out State-Sponsored Scheme as arrears of land revenue.
  16. 16. Bank eligible to become member of co-operative society.
  17. 17. Inspection of books of co-operative society by bank.
  18. 18. Disputes between bank and co-operative society.
  19. 19. Settlement of disputes.
  20. 20. Recovery of money awarded.
  21. 21. Power of bank to proceed against defaulting members of a co-operative society.
  22. 22. Audit inquiry and inspection report of societies to be made available to banks.
  23. 23. Exemption from legislations relating to money lending and relief of agricultural indebtedness.
  24. 24. Mortgage executed by managers of joint Hindu families.
  25. 25. Modified application of section 8 of Act XXXII of 1956.
  26. 26. Mortgages not to be questioned on insolvency of mortgagors.
  27. 27. Power of State Government to make rules.
  28. Schedule. SCHEDULE

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