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The Industrial Finance Corporation Act, 1948 20. Investment of funds. The Corporation may invest its funds in the securities of the Central Government or of any State Government and may, with the approval of the Central Government, contribute to the initial capital of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963), 9*[and the Corporation may also subscribe to, or purchase, 10*[the units of the said Unit Trust of India, or the shares, bonds or debentures of any financial or development institution or organisation]    |
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