The Maharashtra Gramdan Act, 1964
Section 31. Power to borrow.
(1) Subject to rules made in this behalf, a Gram Mandal may raise money for carrying out the purposes for which it is established on the security of the Gram Nidhi or any property vested in, or belonging to it.
(2) A Gram Mandal may, for any of such purposes, also obtain a loan from any Government on such terms and conditions as that Government may determine.
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