Amendment status not verified — confirm the current text below against the official source.
(1) The Commissioners may, with the previous approval of the State Government and subject to such terms and conditions as the State Government may think fit to impose, raise such loans as are necessary for carrying out their functions under this Act. (2) All loans raised under sub-section (1) shall be guaranteed by the State Government as to repayment of principal and payment of interest at such rate as the State Government may, in consultation with the Commissioners, fix at the time the loan is raised.