Section 33(1) in THE MAJOR PORT AUTHORITIES ACT, 2021
(1)The Board may for the purposes of its capital expenditure and working capital requirements raise loans in any currency or currencies from any—(a)scheduled bank or financial institution located within India; or(b)financial institution in any country outside India in compliance with the laws for the time being in force:Provided that no loan or loans exceeding a sum equivalent to fifty per cent. of the capital reserves of the Board shall be raised by the Board without the previous sanction of the Central Government.
