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[Cites 0, Cited by 0] [Section 12(1)] [Section 12] [Entire Act]

Union of India - Subsection

Section 12(1)(b) in The Export-Import Bank Of India Act, 1981

(b)borrow money from the Reserve Bank—
(i)repayable on demand or on the expiry of fixed periods not exceeding ninety days from the date on which the money is so borrowed against the security of stocks, funds and securities (other than immovable property) in which a trustee is authorised to invest trust money by any law for the time being in force in India;
(ii)against bills of exchange or promissory notes arising out of bona fide commercial or trade transactions and bearing two or more good signatures and maturing within five years from the date of the borrowing;
(iii)out of the National Industrial Credit (Long Term Operations) Fund established under section 46C of the Reserve Bank of India Act 1934 (2 of 1934), for any of the purposes specified in that section;