Section 31(2) in The Chennai Metropolitan Water Supply and Sewerage Act, 1978
(2)All moneys belonging to that fund may be deposited or invested-(i)in any scheduled bank within the meaning of the Reserve Bank of India Act, 1934 (Central Act II of 1934); or(ii)in any corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Central Act 5 of 1970); or(iii)in the State Bank of India as defined in the State Bank of India Act, 1955 (Central Act XXIII of 1955) or its subsidiary banks as defined in the Slate Bank of India (Subsidiary Banks) Act, 1959 (Central Act 38 of 1959); or(iv)in such securities as may be approved by the Government.
