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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-

  1. 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
  2. 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
  3. utilised in such other manner as may be approved by the Reserve Bank.

State Agricultural Credit Corporations Act, 1968 Back

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