(6)The Council may borrow from a scheduled bank, as defined in the Reserve Bank of India Act, 1934 (2 of 1934), or from any public financial institution,-(a)any money required for meeting its liabilities on capital account on the security of the fund or on the security of any other asset, for the time being belonging to it; or(b)for the purpose of meeting current liabilities, pending the receipt of income, by way of temporary loan or overdraft.Explanation.-The expression "public financial institution" means a financial institution specified in section 4-A of the Companies Act, 1956 (1 of 1956).
