Agriculture and Rural Development Bank to receive money and give discharge.

Notwithstanding anything contained in section 121, all monies due under the mortgage shall unless otherwise directed by the State Agriculture and Rural Development Bank or the Trustee, and communicated to the mortgagor, be payable by the mortgagor to the Agriculture and Rural Development Bank, and such payments shall be as valid as if the mortgage had not been so transferred and the Agriculture and Rural Development Bank shall in the absence of specific directions to the contrary, issued by the State Agriculture and Rural Development