A multi state cooperative society make a loan (a) to a member on the security of his share or on the security of a non member; or (b) to a non-member Provided that with the general or special sanction of the central registrar, a multi state society may make loans to another multi state cooperative society. (2) Notwithstanding anything contained in sub-section (1), a cooperative society may make a loan to a depositor on the security of his cooperative. Make a loan- (a) to a member on the security of his share or on the security of a non-member; or (b) to a non-member; Provided that with the general or special sanction of the Central Registrar, a multi state cooperative society may make loans to another multi state society. (2) Notwithstanding anything contained in sub-section (1), a multi state cooperative society may make a loan to a depositor on the security of his cooperative society. Loans or advances to any of its directors in his capacity as an employee prior to becoming as director loans or advances granted to its Chairman and Chief Executive Officer or to its who retime director (purchasing a car, personal computer, furniture or constructing/ acquiring a house for his personal use and Festival Advance), with the prior approval and subject to terms and conditions stipulated by RBI.Where any loan or advance granted by a banking company is such that a commitment for granting it could not have been made if clause (b) of sub-section (1) had been in force on the date on which the loan or advance was made or is granted by a banking company after the commencement of section 5 of the Banking Laws (Amendment) Act, 1968 (58 of 1968), but in pursuance of a commitment entered into before such commencement, steps shall be taken to recover the amounts due to the banking company on account of the loan or advance together with the cooperative society, if any, due thereon within the period stipulated at the time of the grant of the loan or advance, or where no such period has been stipulated, before the expiry of one year from the commencement of the said section. One shall not miss this golden opportunity to have a view on industrial processing cooperative society.