Section 38(3) in Bihar State Universities (Patna, University of Bihar, Bhagalpur and Ranchi) Act, 1960
(3)The University Fund shall be kept in such scheduled bank within the meaning of the Reserve Bank of India Act, 1934 (II of 1934), or invested in such securities authorised by the Indian Trusts Act, 1882 (II of 1882), as may, from time to time, be approved by the State Government.
