Loans, etc., to banks

The Bank may grant loans or advances for fixed periods not exceeding six months to banks which pledge the following as collateral security for such loans and advancesbanks. (a) the credit instruments referred to in section 39; (b) negotiable securities of the Government of provided that it shall be lawful for the Bank, with the approval of the Minister, to grant such loans and advances and on such collateral security as is mentioned in the foregoing provisions of this section for such longer period as may be approved by the Minister.