LawgistThe Deposit Insurance and Credit Guarantee Corporation Act
26Advances by Reserve Bank
(1) The Reserve Bank shall, from time to time, advance to the Corporation on a request by it such sum or sums as may be required by the Corporation for the purposes of the Deposit Insurance Fund 1[or the Credit Guarantee Fund]:
Provided that the total amount outstanding at any one time on account of such advances shall not exceed five crores of rupees.
(2) The terms and conditions of any advance under this section shall be such as may be determined by the Reserve Bank with the approval of the Central Government.
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1. Ins. by Act 21 of 1978, s. 8 (w.e.f. 15-7-1978).
FUNDS, ACCOUNTS AND AUDIT
- 22 Funds of Corporation
- 23 Deposit Insurance Fund
- 23A Credit Guarantee Fund
- 24 General Fund
- 25 Investment
- 25A Amount in one fund may be transferred to the other fund or may be utilised for other purposes
- 26 Advances by Reserve Bank
- 27 Advances from General Fund to the Deposit Insurance Fund or Credit Guarantee Fund
- 28 Preparation of balance-sheet, etc., by corporation
- 29 Audit
- 30 Income-tax
- 31 Reserve Fund
- 32 Annual accounts and reports
