Section 32(1) in The Inland Waterways Authority Of India Rules, 1986
(1)In respect of every loan raised by the Authority, not being a loan repayable before the expiration of one year from the date of the loan, the Authority shall set apart a sum half yearly, out of its income in a reserve fund, sufficient to liquidate the loan within a period which shall not in any case exceed thirty years.Provided that a reserve fund need not, in the absence of any stipulation to that effect, be established in the case of loans taken by the Authority from the Central Government or any State Government.
