Section 60
Notice To Be Given To Village Development Committee Or Municipality
While lending or borrowing a loan in cash in a sum exceeding Rs. 50/-(Fifty Rupees) or in-kind worth in excess of Rs. 50/- (Fifty Rupees) for any agricultural acts, a notice thereof shall be given to the Village Development Committee or Municipality.
Provided that, such committee or authority or cooperative bank or cooperative institution as prescribed pursuant to this Act need not give such notice while lending a loan.