Section 5(48) in The M.P. Municipal Corporation Act, 1956
(48)"public securities" means-(a)securities of the Central or any .State Government;(b)securities, stock, debentures, or shares the interest whereon has been guaranteed by the Central or State Government;(c)debentures or other securities for money issued by or on behalf of any local authority in exercise of the powers conferred by any enactment for the time being in force in any part of the Republic of India;(d)securities expressly authorised by any order which the State Government makes in this behalf;
