State Agricultural Credit Corporations Act, 1968
27. Investment of surplus funds.
All moneys belonging to the Corporation which may not, for the time being be required by it shall be-
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
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, 882 (2 of 1882); or
utilised in such other manner as may be approved by the Reserve Bank.