Amendment status not verified — confirm the current text below against the official source.
Borrowing Power of the Board.- (1) The Board may, with the consent of the Government or in accordance with the terms of any general or special authority given to it by the Government, borrow money from any source by the issue of bonds, debentures, loans or such other instruments as it may deem fit for discharging all or any of its functions under this Act. (2) The Government may guarantee in such manner as it thinks fit for the repayment of the principal and the payment of interest thereon with respect to the loans borrowed by the Board under sub-section (1). (3) Subject to such limits as the Government may, from time to time, lay down, the Board may borrow temporarily by way of overdraft or otherwise such amounts as it may require for discharging its functions under this Act.