Section 32(4) in Punjab Water Supply and Sewerage Board Act, 1976
(4)Except as otherwise directed by the Government, all moneys and receipts specified in the foregoing provision and forming part of the fund of the Board shall be deposited in the State Bank of India or any other Bank included in the Schedule to the Reserve Bank of India Act, 1934 (Central Act II of 1934) or invested in such other form or such other securities as may be approved by the Government.
