law: Export-Import Bank of India Act, 1981
  12. Borrowings and
  
  acceptance of deposits by Exim Bank.-
  1.  
  
    The
  
  Exim Bank may, for the purposes of carrying out its functions under this Act,-
  a.  
  
    issue
  
  and sell bonds and debentures with or without the guarantee of the Central
  
  Government;
  b.  
  
    borrow
  
  money from the Reserve Bank—
   
  
   i.  
  
    repayable
  
  on demand or on the expiry of fixed periods not exceeding ninety days from the
  
  date on which the money is so borrowed against the security of stocks, funds
  
  and securities (other than immovable property) in which a trustee is authorised
  
  to invest trust money by any law for the time being in force in India;
   
  
   ii.  
  
    against
  
  bills of exchange or promissory notes arising out of bona fide commercial or
  
  trade transactions and bearing two or more good signatures and maturing within
  
  five years from the date of the borrowing;
   
  
   iii.  
  
    out
  
  of the National Industrial Credit (Long Term Operations) Fund established under
  
  section 46C of the Reserve Bank of India Act, 1934 (2 of 1934) for any of the
  
  purposes specified in that section;
  a.  
  
  
  b.  
  
  
  c.  
  
    borrow
  
  money from such other authority, organisation or institution in India as may
  
  generally or specially be approved by the Central Government;
  d.  
  
    accept
  
  deposits repayable after the expiry of a period which shall not be less than
  
  twelve months from the date of the making of the deposit on such terms as may
  
  generally or specially be approved by the Reserve Bank. 169
  2.  
  
    The
  
  Central Government may, on a request being made to it by the Exim Bank,
  
  guarantee the bonds and debentures issued by that Bank as to the repayment of
  
  principal and the payment of interest at such rate as may be fixed by that
  
  Government.