Section 23(1) in The Industrial Reconstruction Bank Of India Act, 1984
(1)Notwithstanding anything contained in the Foreign Exchange Regulation Act, 1973 (46 of 1973) or in any other enactment for the time being in force relating to foreign exchange, the Reconstruction Bank may, for the purpose of granting loans and advances under this Act, borrow, with the previous consent of the Central Government, foreign currency from any bank or financial institution in any foreign country or as otherwise prescribed.
