Vidhi Codex

Bare Act

The Haryana Agricultural Credit Operations and Miscellaneous Provision (Banks) Act, 1973

Finance197323 sections

This law governs how banks and co-operative societies provide financial assistance to farmers in Haryana. It applies to all banks operating in the state, including cooperative societies and financial institutions, as well as the farmers and agro-industries they serve. The Act matters because it allows farmers to use their crops and movable property as security to obtain loans for farming needs. It also establishes clear rules about which lender gets priority if a farmer defaults, ensuring that banks and co-operatives can lend money with confidence to support agricultural development.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions
  3. 3. Charge on crop and other moveable property in favour of bank.
  4. 4. Creation of Charge on land in favour of bank by declaration.
  5. 5. Removal of disability in creation of charges and mortgages.
  6. 6. Priority of charges and mortgages in favour of Government, bank and co-operative society.
  7. 7. Restrictions on creation of tenancy by agriculturist borrower.
  8. 8. Recovery of dues of bank by prescribed authority.
  9. 9. Right of bank to acquire land or interest in immovable property.
  10. 10. Bank eligible to become member of co-operative society.
  11. 11. Power of co-operative societies to borrow from banks.
  12. 12. Inspection of books of co-operative society by bank.
  13. 13. Disputes between bank and co-operative society.
  14. 14. Settlement of disputes.
  15. 15. Procedure for hearing of disputes.
  16. 16. Decision of Registrar or his nominee or board of nominees.
  17. 17. Recovery of money awarded.
  18. 18. Powers of banks to proceed against members of co-operative society.
  19. 19. Audit, inspection and inquiry to banks.
  20. 20. Exemption from legislations relating to money lending and agriculturists' debt relief.
  21. 21. Mortgages executed by managers of joint Hindu families.
  22. 22. Modified application of section 8 of Act 32 of 1956.
  23. 23. Power to make rules.

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