Section 23 in The Rajasthan State Warehousing Corporation Rules, 1975
23. Deposit in Bank or investment in securities of surplus funds.
- (i) Any funds of the Corporation not required for current expenditure may, subject to such general or special directions, if any, given by the State Government, in this behalf, be placed in fixed deposits with the Reserve Bank of India or State Bank of India or any scheduled or Co-operative Bank approved in this behalf by the State Government or invested in the name of the Corporation in interest bearing deposits or securities of the Central or State Government keeping in view the twin objectives of safety and return on investment.(ii)The placing of money in fixed deposit and the investment thereof and the disposal of money so placed or invested shall require the sanction of the Executive Committee of the Corporation:Provided that short-term call deposits and fixed deposits for a period of less than one year may be made by the Managing Director.(iii)The Managing Director may raise loan against fixed deposit receipts from the Banks as and when necessary.
