Para 6.3 — MSO

6.3 In the present day context of the huge loans granted to State Governments, statutory Corporations etc., Government Companies, Quasipublic bodies and private institutions for development and other purposes, it has become an important function of the Accountant General not only to watch the fulfillment of the various conditions on which the loans are sanctioned, but also to ascertain that the loans are utilised for the purposes and on the objects for which they are sanctioned.