Section 21P(4) in The Punjab Slum Areas (Improvement and Clearance) Act, 1961
(4)Except as otherwise directed by the State Government, all moneys and receipts specified in the foregoing provisions and forming part of the fund of the Board shall be deposited in the State Bank of India or in any Scheduled Bank or a Co-operative Bank or invested in such securities as may be approved by the State Government.
