- The municipal fund shall be kept in a Government treasury or sub-treasury or a bank to which the Government treasury business has been made over or in any of the [Co-operative Banks or Scheduled Banks as defined in] [Substituted for the words 'banks mentioned in column 2 of the First Schdule to the Banking Companies (Acquistition and Transfer of Undertakings) Act, 1970 or a co-operative bank as defined in clause (bii) of' by Haryana Act No. 12 of 1979.] Section 2 of the Reserve Bank of India Act, 1934 or a post-office.
