Section 12(1) in The Punjab Infrastructure (Development & Regulation) Act, 2002
(1)After the Authority is established by the State Government, the Authority shall open an account in any nationalized bank or a bank authorized by the Reserve Bank of India to carry out the banking business. The following may be credited to die Account, namely :-(i)contribution received from the State Government;(ii)grants received by the Authority; and(iii)any other sum received by the Authority from any sources including fixed by the Authority under the regulations for the proceedings before the Authority.
