Definitions.

In this Act, unless the context requires otherwise,-

1. (a) "borrower" means a person who has received a loan under this Act and which has not been repaid in full;
2. (b) "cottage industry" means an industry prescribed by rules made by the State Government, regard being had in particular to the fact that such industry is carried on by an artisan in or near this home, and the capital of which does not exceed Rs. 25,000 (or such other sum as the State Government may from time to time in such rules denote);
3. (c) "industry" means the manufacture, preservation or processing of goods, or any handicraft, or industrial business or enterprise, carried on by any person;
4. (d) "loan" means a loan granted under this Act; 1[(e) "small scale industry" means any industry which has a capital investment in plant and machinery of not more than rupees seven hundred and fifty thousand, irrespective of the number of persons employed therein. Explanation.- The value of the plant and machinery for ascertaining the capital investment shall be the price paid by the borrower of such plant and machinery.]