116 



GRANT OF LOANS AND ADVANCES TO AGRICULTURISTS. 



(2) In determining the amount of the loan in such cases, the 

 officer dealing with the application shall follow the estimates of cost of 

 the works as given in the said programme. For other works the rate 

 shall not exceed the ordinary local rate by more than 25 per cent. 



10. If the proposed work be approved by the enquiring officer, 



and if the security offered be good and sufficient, 

 Procedure. 



he may, on completion of the local enquiry, 



sanction the loan himself if empowered by rule 4 to do so ; otherwise, 

 he shall forward the application with his report for orders under 

 rule 7. 



11. If the loan is sanctioned in the wllage by an officer other 

 Disbursement of loans than the Collector, the sanctioning officer, after 



on the spot. filling in the particulars mentioned on the reverse 



of Form D* and taking the security required by rule 13 may, if 

 so desired by the applicant, disburse the loan on the spot. Loans or 

 instalments of loans sanctioned by the Collector or any higher 

 authority may also be disbursed in the village by Sub-divisional Officers 

 and Famine Relief Charge Superintendents, and by Deputy Collectors 

 empowered under rule 4, and by any reliable non-official agency, 

 where available ; 



Provided that, when any loan is payable in more than one instal- 

 ments, the second or any subsequent instalment shall not be paid by 

 the disbursing officer, except as provided in rule 16. 



15. Interest shall be charged at one anna per rupee, or 6j per 



cent, per annum, except in the case of a mis- 

 application of the loan, when interest shall be 

 charged at double the above rate, as provided for in rules 22 and 23. 



16. Loans shall ordinarily be given in three instalments, viz., 

 Payment of Loans two-fifths before the work has been commenced, 



by instalments. two-fif ths when it is approximately half finished, 



and one-fifth when it has been passed as completed after due inspection. 



17. (1) Repayment shall be made by yearly or half-yearly instalments. 



(2) The date of the first instalment shall be the time when 

 profit begins to accrue, but shall in no case be 



Repayments by ins- i 

 talments ; date of in- later than two-and-a-half years from the date of 



the actual advance of the loan, or, when the 



. i 



* Efee foot note on p. 114. 





Interest. 



