Section 98. Power of committee of State Land Development Bank to supervise Land Development Bank and make regulations

The committee of the State Land Development Bank shall have a general power of supervision over Land Development Banks and may, with the previous sanction of the Government, make regulations, not inconsistent with this Act or the rules made thereunder, for all or any of the following matters, namely :- (a) for the inspection of the account books and proceedings of Land Development Banks; (b) for the submission of returns and reports by such banks in respect of their transactions; (c) for the periodical settlement of accounts between such banks and the State Land Development Bank, being accounts relating to the payment of the amounts recovered by such banks on mortgages transferred to the State Land Development Bank; (d) for the form in which application to such banks for loans shall be made and for the valuation of properties offered as security for such loans; (e) for the investment of moneys realized from the mortgagers; (f) for the conditions of service of employees of such banks; (g) for the programme and policy to be followed by such banks for making loans; (h) for the types and extent of security to be obtained by such banks for advancing loans; and (i) generally, for the purpose of safeguarding the interest of the parties, furtherance of activities of such banks, and carrying out the purposes of this chapter.