Power of the Board to borrow money from Foreign Lending Institutions

Notwithstanding anything contained in this Act, but subject to any other law for the time being in force, the Board may, with prior approval of the State Government, on such terms as may be approved, raise, for the purposes of this Act, loan in any currency or currencies from Lending Institutions outside India, and no other provision of this Chapter shall apply to or in relation to any such loan unless the terms and conditions of the loan or the approval thereof by the State Government otherwise provide.