Grama Panchayat may raise loans and form a sinking fund.

214. Grama Panchayat may raise loans and form a sinking fund. - A Grama Panchayat may, with the previous sanction of the Government and subject to the conditions imposed by it from time to time, raise loans for the execution of any work or for the purposes of carrying out any of the provisions of this Act and form a sin king fund in the prescribed manner for the repayment of such loans.