Entries to be made by the Banks and financial institutions in the Pass Book.

(1)The Banks and the financial institutions shall make necessary entries in the relevant columns of the Pass Book regarding the financial assistance or loan given to the land holder and the charge or mortgage created in the relevant columns of the Pass Book in respect of the land.

1. (2) The Bank or the financial institution, as the case may be, shall send an extract of the entries made in the Pass Book to the Competent Authority within fifteen days from the date of the transaction. The competent authority shall cause the entry to be made in the Pass Book maintained by it.