Section 58(5) in Telangana Housing Board Act, 1956
(5)Except as otherwise directed by the Government all moneys and receipts specified in the foregoing provisions and forming part of the fund of the Board shall be deposited in the [State Bank of Hyderabad] ['Hyderabad State Bank' renamed as 'State Bank of Hyderabad' by Central Act 79 of 1956.] or in any Scheduled Bank or invested in such securities as may be approved by the Government.
