Section 12 in The Land Ports Authority of India Rules, 2011
12. Manner of investment of Funds.
- The Authority may invest its funds (including any reserve fund) -(a)in the securities of the Central Government; or(b)in fixed deposits with, -(i)the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955); or(ii)any subsidiary bank constituted under the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959); or(iii)any corresponding new bank as specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980); or(iv)any bank as specified in the Second Schedule of the Reserve Bank of India Act, 1934 (2 of 1934); or(v)any other public financial institution as defined in Section 4-A of the Companies Act, 1956 (1 of 1956),subject to such conditions as may, from time to time, be specified by the Central Government.
