Amendment status not verified — confirm the current text below against the official source.
155. Notwithstanding anything contained in section 154 but subject to the provisions of section 31 of the Reserve Bank of India Act, 1934 the 1 [Corporation] may borrow for the purposes of this Act from any bank or banks in which the surplus moneys at the credit of the 1 [Corporation] Fund may be deposited, against any public securities in which for the time being the cash balance of the 1 [Corporation] may be invested : Provided that in the case of an indebted 1 [Corporation], borrowing under this section shall be made with the previous approval of the State Government.