The Odisha Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1975
The Odisha Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1975
The Orissa Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1975 facilitates institutional credit for farmers across the state. It allows agriculturists to pledge crops, movable property, or land to commercial banks to secure agricultural loans. The law establishes rules for loan priority, simplifies land mortgage registration, and grants banks efficient recovery mechanisms through state-appointed authorities and civil courts. It also enables banks to participate in co-operative societies, inspect their finances, and resolve inter-institutional disputes. By exempting bank credit from restrictive money-lending and debt-relief laws, this legislation promotes safe, formal agricultural financing to support state farming operations and rural development.
- 1. Short title, extent and commencement
- 2. Definitions
- 3. Rights of agriculturists to create charge on crops and other movables in favour of banks
- 4. Creation of charge on land in favour of a bank by a declaration
- 5. Removal of disability in creation of charge and mortgages
- 6. Priority of charges and mortgages in favour of Government or a co-operative society
- 7. Registration of charge and mortgage in favour of banks
- 8. Restrictions on creation of tenancy by agriculturist borrower
- 9. Removal of bar to attachment and sale by civil court
- 10. Recovery of dues of a bank through a prescribed authority
- 11. Power of a Bank to acquire and dispose of immovable property
- 12. Exemption to banks from restrictions on acquisition of land in ceiling
- 13. Banks eligible to become member of a co-operative society
- 14. Power of co-operative societies to borrow from banks
- 15. Inspection of books of co-operative societies by a bank
- 16. Disputes between a bank and the co-operative society
- 17. Settlement of disputes
- 18. Procedure for hearing
- 19. Decision of Registrar or his nominee or Board of nominees
- 20. Enforcement of money awarded
- 21. Powers of a Bank to proceed against defaulting members of a Co-operative Society
- 22. Audit, inquiry and inspection reports of societies so available to banks
- 23. Exemption from legislations relating to money lending and agriculturists debt relief
- 24. Mortgages executed by Managers of joint Hindu family
- 25. Modified application of section 8 of
- 26. Power of State Government to make rules
PDF: pending for this language.