Section 52(3) in Manipur International University Act, 2018
(3)The University Fund shall, at the discretion of the Governing Board, be kept in a Scheduled Bank as defined in the Reserve Bank of India Act 1934, or in a corresponding new bank constituted under, the Banking Companies (Acquition and transfer of Undertakings) Act, 1970, and the Banking Companies (Acquition and Transfer of Undertakings) Act, 1980, or may be invested in such securities authorized by the Indian Trusts Act, 1882.
