Registration of documents executed on behalf of a Co-operative Agricultural and Rural Development Bank or of the State Co-operative Agricultural and Rural Development Bank

(1) Notwithstanding anything contained in the Indian Registration Act, 1908 (16 of 1908)– (a) it shall not be necessary to register a mortgage executed in favour of the State Co-operative Agricultural and Rural Development Bank or any Co-operative Agricultural and Rural Development Bank where the concerned bank sends within such time and in such manner as may be prescribed a copy of the mortgage deed to the registering officer having jurisdiction, who shall file such copy in the book maintained under Section 51 of the said Act, and