29. Power of the Board to make regulations. - The Board may, subject to the approval of the Trustee, make regulations not inconsistent with the provision of this Act, the rules and the bye-laws of 1[Uttar Pradesh Sahkari Gram Vikas Bank] providing for all or any of the following matters:-
(a) fixing the period of debentures and the rate of interest payable thereon;
(b) calling in debentures after giving notices to debenture-holders;
(c) issue of new debentures in place of debentures damaged or destroyed;
(d) converting one class of debentures into another bearing a different rate of interest;
(e) inspection of the account books and proceedings of 1[Gram Vikas Banks];
(f) submission of return and reports by 1[Gram Vikas Banks] in respect of their transactions;
(g) periodical settlement of accounts between 1[Gram Vikas Banks] and the 1[Uttar Pradesh Sahkari Gram Vikas Bank] and for the payment of the amounts recovered by the 1[Gram Vikas Banks] on mortgages transferred or deemed under Section 12 to have been transferred to the 1[Uttar Pradesh Gram Vikas Bank];
(h) specifying the form in which application to 1[Gram Vikas Bank] or the 1[Uttar Pradesh Sahkari Gram Vikas Bank] for loans should be made and the procedure to be followed in the advancement of such loans;
(i) valuation of the properties offered as security for loans;
(j) investment of moneys realised from mortgagors; and
(k) generally for any other matter in respect of which the Board considers the provisions should be made for the purposes of this Act:
Provided that the regulations framed under clause (i) shall be subject to the approval of the State Government.
(a) fixing the period of debentures and the rate of interest payable thereon;
(b) calling in debentures after giving notices to debenture-holders;
(c) issue of new debentures in place of debentures damaged or destroyed;
(d) converting one class of debentures into another bearing a different rate of interest;
(e) inspection of the account books and proceedings of 1[Gram Vikas Banks];
(f) submission of return and reports by 1[Gram Vikas Banks] in respect of their transactions;
(g) periodical settlement of accounts between 1[Gram Vikas Banks] and the 1[Uttar Pradesh Sahkari Gram Vikas Bank] and for the payment of the amounts recovered by the 1[Gram Vikas Banks] on mortgages transferred or deemed under Section 12 to have been transferred to the 1[Uttar Pradesh Gram Vikas Bank];
(h) specifying the form in which application to 1[Gram Vikas Bank] or the 1[Uttar Pradesh Sahkari Gram Vikas Bank] for loans should be made and the procedure to be followed in the advancement of such loans;
(i) valuation of the properties offered as security for loans;
(j) investment of moneys realised from mortgagors; and
(k) generally for any other matter in respect of which the Board considers the provisions should be made for the purposes of this Act:
Provided that the regulations framed under clause (i) shall be subject to the approval of the State Government.
Source footnotes
1. Subs. by U.P. Act No. 19 of 1994आगे पढ़ें / Continue reading
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More sections of this act
Section 1 · Short title, extent and commencementSection 2 · DefinitionsSection 3 · Number of Gram Vikas BanksSection 4 · Appointment of Trustee and his powers and functionsSection 5 · Trustee to be a Corporation SoleSection 6 · Issue of debentures by the BoardSection 7 · Vesting of property in Trustee and Debenture -holders charge on the assetsSection 8 · Guarantee by State Government of Principal and interest of the money to be borrowed by means of debentures or otherwiseIndia Code, Government of India. Text fetched 16 Oct 2026. Source metadata reports last modification: 2024-03-15. Check the linked official text and subsequent notifications when applying a provision.