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26. Advances 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.

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Back

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