(1) The Authority may, with the consent of the Central Government or in accordance with the terms of any general or special authority given to it by the Central Government, borrow money from any source by the issue of bonds, debentures or such other instruments as it may deem fit for discharging all or any of its functions under this Act.
(2) Subject to such limits as the Central Government may, from time to time, lay down, the Authority may borrow temporarily by way of overdraft or otherwise, such amounts as it may require for discharging its functions under this Act.
(3) The Central 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 borrowings made by the Authority under sub-section (1).
(2) Subject to such limits as the Central Government may, from time to time, lay down, the Authority may borrow temporarily by way of overdraft or otherwise, such amounts as it may require for discharging its functions under this Act.
(3) The Central 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 borrowings made by the Authority under sub-section (1).
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Constitution of the Authority.Section 4 · Term of office and conditions of service of members.Section 5 · Disqualifications for appointment as member.Section 6 · Eligibility of member for reappointment.Section 7 · Meetings.Section 8 · Vacancy in the Authority not to invalidate proceedings.India Code, Government of India. Text fetched 26 Oct 2026. Source metadata reports last modification: 2025-11-07. Check the linked official text and subsequent notifications when applying a provision.