Question
What is the authorised capital of the Corporation as per
the initial provision, and what is the maximum limit it can be increased to with Central Government approval?Solution
Section 4. Capital of Corporation—(1) The authorised capital of the Corporation shall be one crore of rupees but the Central Government may, in consultation with the Reserve Bank, increase such capital from time to time, so, however, that the total authorised capital shall not exceed fifty crores of rupees.
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