Section 7(2) in The M.P. Housing Board Regulations, 1977
(2)A Pass Book for the deposit in any of the banks specified in column (2) of the First Schedule to the Banking Companies (Acquisition and Transfer Undertakings) Act, 1970 (No. 5 of 1970), will be accepted as security, provided that the account is pledged to the Madhya Pradesh Housing Board.
