Other Guarantee by Government

Where the State Co-operative Bank or the primary agricultural credit society has given a long-term loan to a member for the improvement of any land in excess of the amount of the loan to which such member would be entitled, on the basis of the value of the land as determined in accordance with the principles of valuation approved by the Committee from time to time with the approval of the Registrar, the Government may guarantee for a specified period the repayment of the loan to the extent of the excess.