Section 54(1) in The Coal Mines Provident Fund Scheme
(1)All monies belonging to the Coal Mines Provident Fund shall be either deposited in the Imperial Bank of India or in such other scheduled banks as may be approved by the Central Government from time to time, or invested in securities mentioned or referred to in clauses (a) to (d) of section 20 of the Indian Trusts Act, 1882 (II of 1882) subject to the condition that the securities in which investments are made are payable both m respect of capital and of interest in Dominion of India.
