(1) This Act may be called the West Bengal Agricultural Credit Operations Act, 1973.
(2) It extends to the whole. of West Bengal.
(3) This section shall come into force at once and the remaining sections shall come into force on such date or dates and in Such area or areas as the State Government may, by notification in the Official Gazette, appoint.
Short title, extent and commencement.
2. In this Act, unless the context otherwise requires,— Definitions.
(a) "agriculture" or "agricultural purpose" includes making any land fit for cultivation, cultivation of land, improvement of land, development of the sources of irrigation, raising and harvesting of crops, pisciculture, sericulture, horticulture, forestry, animal husbandry, dairy farming, seed farming, piggery, poultry farming and also includes storage, transport and marketing of agricultural produce, the acquisition of machineries and implements for agricultural purposes and such other purposes as the State Government may, by notification in the Official Gazette, specify;
(b) "agriculturist" means a person who holds land for any agricultural purpose or who is engaged in agriculture and includes a bargadar;
123 The West Bengal Agricultural Credit Operations Act, 1973.
[West Ben. Act (Section 3.)
(c) "co-operative society" means a co-operative society registered under the Bengal Co-operative Societies Act, Ben. Act 1940, and includes a co-operative land mortgage bank; XXI of 1940.
(d) "credit agency" means—
(i) a bank included in the Second Schedule to the Reserve Bank of India Act, 1934; 2 of 1934.
(ii) the State Bank of India constituted under the State Bank of India Act, 1955; 22 of 1955.
(iii) 'a Subsidiary Bank' as defined in the State Bank of India (Subsidiary Banks) Act, 1959; 33 of 1959.
(iv) 'a corresponding new bank' as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakeings) Act, 1970; and 5 of 1970.
(v) any other financial institution notified by the State Government as a credit agency for the purposes of this Act;
(e) "crop loan" means a loan advanced to an agriculturist for the purpose of financing seasonal agricultural operation or the marketing of crop and is recoverable within fifteen months from the date of advancement of such loan;
(f) "financial assistance" means assistance granted by a credit agency in favour of an agriculturist by way of loan, advance, guarantee or otherwise for agricultural purposes;
"land"—
(i) includes the crops standing thereon, and
(ii) in the case of a bargadar means his share of produce on such land;
(h) "prescribed" means prescribed by rules made under this Act;
(i) "term loan" means a loan advanced to an agriculturist for meeting outlay relating to the replacement or maintenance of wasting assets including machineries or for capital investment designed to increase the crop output and is repayable within any period exceeding fifteen months but not exceeding twenty years.
(g) Removal of restrictions on alienation.