(1) The Financial Corporation may accept from the State Government or, with the prior approval of 1[ the State Government, the Development Bank and the Reserve Bank], a local authority or any other person 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 and on such other terms as it thinks fit: 2[ Provided that the total amount of such deposits shall not exceed twice the paid- up share capital of the Financial Corporation: Provided further that the Central Government may permit the Financial Corporation to accept deposits up to a higher limit not exceeding ten times the paid- up share capital of the Financial Corporation.