Section 16 in The M.P. State Warehousing Corporation Rules, 1971
16. Deposit in Bank of investment in securities of surplus Funds.
- Any funds of the Corporation not required for current expenditure may be placed in fixed deposits with the Reserve Bank of India, 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 the securities of the State Government or the Central Government.(2)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.
