Section 24(3) in Jammu and Kashmir Khadi and Village Industries Board Act, 1965
(3)All moneys belonging to the fund of the Board shall be deposited in the State Bank of India or with the agents of the State Bank of India or where there is neither an office of the State Bank of India nor an agent of the State Bank of India, in a Government Treasury or be invested in such securities as may be approved by the Government :[Provided that the funds received from the Government as grant-in-aid shall be deposited in the Jammu and Kashmir Bank Ltd. or in its branches.] [Proviso inserted by Act III of 1973, section 2.]
