section 4
Procedure for sanctioning loans
The Himachal Pradesh Backward Classes (Grant of Loans) Act, 1969Finance196914 sections
Statutory text
- (1) Any person belonging to a backward class may submit to the controlling authority an application in the prescribed form, supported by an affidavit, stating the amount of loan desired by him, the purpose or purposes for which it is desired and the manner in which the repayment of the loan, if granted to him, is proposed to be made.
- (2) The controlling authority if satisfied that the applicant is a person belonging to a backward class, may sanction the loan to the extent of the amount stated in the application or any lesser amount, subject to a maximum of two thousand rupees in each case.
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