Section 32(3) in The M.P. Vishwavidyalaya Adhiniyam, 1973
(3)The University Fund shall be kept in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (No. 2 of 1934), or invested in securities authorised by the Indian Trust Act, 1882 (No. 2 of 1882), at the discretion of the Executive Council.
