Section 148 in The Rajasthan District Boards Act, 1954
148. Custody and investment of fund.
(1)The District Fund shall be kept in the Government treasury of the District or in the bank to which the Government treasury business has been made over.(2)In places where there is no such treasury or bank the District Fund may be kept with a banker or person acting as a banker, who has given such security for the safe custody and repayment on demand of the fund so kept as the State Government may in each case think sufficient.(3)Nothing in the foregoing provisions of this section shall be deemed to preclude a Board from investing with the previous sanction of the State Government in any of the securities described in section 20 of the Indian Trusts Act, 1882 or placing on fixed deposit with any Bank approved by the State Government any portion of its Fund which is not required for immediate expenditure.
