Section 94. Registration of mortgages in favour of Agriculture and Rural Development Bank.

Notwithstanding anything contained in 1[the Registration Act, 1908 (16 of 1908)], or any other law for the time being in force it shall not be necessary to register any mortgage or hypothecation or charge created or executed in favour of the Agriculture and Rural Development Bank or a Primary Bank ; Provided the Agriculture and Rural Development Bank or the Primary Bank, as the case may be send within such time and in such manner as may be prescribed, a copy of the declaration or instrument whereby the mortgage or hypothecation has been created or executed for the purpose of securing repayment of the loan, to the Registering Officer within the local limits of whose jurisdiction the whole or any part of the property to which the mortgage or hypothecation relates is situated.