Amendment status not verified — confirm the current text below against the official source.
(1) The Corporation may, subject to such conditions as may be prescribed in this behalf, borrow money in the open market or from banks and financial institutions or otherwise with a view to providing itself with adequate resources. (2) All moneys borrowed under sub-section ( I ) may be guaranteed by the State Government as to the repayment of principal and the payment of interest at such rates and on such conditions as the State Government may determine at the time the moneys are borrowed.