Section 79 in West Bengal Co-operative Societies Act, 2006
79. Investment of funds.
- A Co-operative society may invest or deposit its funds-(a)in a Government savings bank; or(b)in any security specified in section 20 of the Indian Trust Act, 1882 (2 of 1882); or(c)in the share or debenture or security of any other Co-operative society; or(d)in the West Bengal State Co-operative Bank limited; or(e)in the Central Co-operative Bank of the area within which its registered office lies, including branches of the said banks if any; or(f)[ in any scheduled bank regulated by the Reserve Bank of India with the approval of the Registrar: [Substituted by Act No. 13 of 2015 (w.e.f. 25.5.2010).]Provided that a Co-operative society comprising self-help group members may invest its funds in a nationalized bank or scheduled commercial bank or regional rural bank or Co-operative bank or scheduled commercial bank or regional rural bank or Co-operative banks for which no approval will be necessary:Provided further that in the case of a Co-operative bank, such investment shall be made in accordance with the directives issued by the Reserve Bank of India from time to time.]
