Section 20 in Bye-Laws for the State Board of Digamber Jain Religious Trusts
20.
All money received by the Board or trustee shall be lodged in the State Bank of India, and if there be no branch of the State Bank of India near the Head Office of the trust then in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934, and approved by the President.Any money which is not required for immediate expenditure shall be invested with the previous sanction of the President, (a) in promissory notes or debentures or other security of Central Government, or (b) in promissory notes, debentures, stock or other securities of the State Government, or (c) in a post office Saving Bank or (d) in fixed deposits for period not exceeding three years in the State Bank of India or in Scheduled Bank as defined in the Reserve Bank of India Act, 1934.A trustee may withdraw money with the previous sanction of the Board.The President will operate all accounts in the State Bank of India or any other bank in which the accounts of the Board are kept. During his absence from headquarters of the Board or if for any reason he is unable to perform his duties, the Superintendent and a member of the Board will jointly sign cheques for withdrawal of money.
