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(1) The Corporation shall also have another fund to be called the loan fund, which shall also be deemed to be a local fund and to which shall be credited all moneys received by or on behalf of the Corporation, by way of loans. (2) Without prejudice to the provisions of section 25 or sub-section (1) of this section, the Corporation may, with the previous approval of the State Government, constitute such other funds as may be necessary for the efficient performance of its duties and discharge of its functions under this Act. (3) Except as otherwise directed by the State Government, all moneys and receipts specified in the foregoing provisions and forming part of the funds of the Corporation shall be deposited in the Reserve Bank of India or in any nationalised bank or other Scheduled Bank or invested in such securities as may be approved by the State Government.
(1) The Corporation shall also have another fund to be called the loan fund, which shall also be deemed to be a local fund and to which shall be credited all moneys received by or on behalf of the Corporation, by way of loans.<br> (2) Without prejudice to the provisions of section 25 or sub-section (1) of this section, the Corporation may, with the previous approval of the State Government, constitute such other funds as may be necessary for the efficient performance of its duties and discharge of its functions under this Act.<br> (3) Except as otherwise directed by the State Government, all moneys and receipts specified in the foregoing provisions and forming part of the funds of the Corporation shall be deposited in the Reserve Bank of India or in any nationalised bank or other Scheduled Bank or invested in such securities as may be approved by the State Government. <br>