12. Borrowing power of the Board.- (1) The Board may, with the approval 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 issuing the bonds, debentures 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, 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 amount as it may require for discharging its functions under this Act.
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Section 1 · Short title, extent and commencement.Section 2 · Exemptions.Section 3 · Definitions.Section 4 · Establishment and constitution of the Board.Section 5 · Term of office.Section 6 · Disqualifications.Section 7 · Meetings of the Board.Section 8 · Powers and functions of the Board.India Code, Government of India. Text fetched 20 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.