31. Powers of divineguma community based banking societies

The divineguma community based banking societies shall have the power:–

to accept deposits of the divineguma community based banks ;

to invest its funds, grant credit facilities and disburse profits;

to provide such facilities and training as are needed for the promotion of the divineguma community based banks;

to maintain accounts of divineguma community based banks and manage such subsidies as may be provided by the government;

to supervise and regulate the divineguma community based banking activities subject to such directions as may be issued by the Board of

to possess and hold, any property movable or immovable which may become vested in it by virtue of any purchase, grant, gift, testamentary disposition or otherwise.