Section 133(4) in The Goa, Daman and Diu School Education Rules, 1986
(4)Every Recognised Unaided School Fund shall be kept deposited in a nationalised bank or a scheduled bank or in a post office in the name of the school and such part of the said Fund as may be specified by the Administrator or any officer authorised by him in this behalf shall be kept in the form of Government securities and as cash in hand respectively:Provided that in the case of an unaided minority school the proportion of such Fund which may be kept in the form of Government securities or as cash in hand shall be determined by the managing committee of such school.
