Section 34(4) in The Mahatma Gandhi Chitrakoot Gramodaya Vishwavidhyalaya Adhiniyam, 1991
(4)The University Fund shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (No. 2 of 1934) or vested in securities authorised by the Indian Trusts Act, 1882 (No. 2 of 1882) at the discretion of the Board.
