State Agricultural Credit Corporation Act : Investment of surplus funds. Indian Bare Acts :

State Agricultural Credit Corporation Act,1968

Act No : 60

Section : Investment of surplus funds.

27. Investment of surplus funds. All moneys belonging to the Corporation which may not, for the time being be required by it shall be- (a) deposited with the Reserve Bank or with any agency of the Reserve Bank or in consultation with the Reserve Bank with a Scheduled Bank, State Co-operative Bank or Central Co-operative Bank; or (b) invested in the securities of the Central Government or any State Government or in securities in which a trustee may invest money under clause (a), clause (b), clause (bb), clause (c) or clause (d) of section 20 of the Indian Trusts Act, 1882 (2 of 1882); or (c) utilised in such other manner as may be approved by the Reserve Bank.