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Notwithstanding anything contained in the Foreign Exchange
Regulation Act, 1973 (46 of 1973) or in any other law for the time being in force relating to foreign
exchange, the Exim 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 foreign State or from
any bank or financial institution in any foreign country or otherwise.
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