Section 44(1) in The Punjab Co-operative Societies Act, 1961
(1)A co-operative society may invest or deposit its funds-(a)in the post office savings bank; or(b)in any of the securities specified in Section 20 of the Indian Trust Act, 1882; or(c)in the shares or securities of any other co-operative society; or(d)with any bank carrying on the business of banking approved for this purpose by the Registrar; or(e)In any other mode permitted by the rules.
