Section 83 in The Maharashtra Municipal Corporations Act, 1949
83. Commissioner to receive payments on account of Municipal Fund and to lodge them in a bank. - All moneys payable to the credit of the Municipal Fund shall be received by the Commissioner and shall be forthwith paid into the Imperial Bank of India [or any other scheduled bank] [or an approved co-operative bank] to the credit of an account which shall be styled "the account of the Municipal Fund of . . .";
Provided that the Commissioner may, subject to any general or special directions issued by the Standing Committee, retain such balances in cash as may be necessary for current payments :[Provided further that the amount of money to be paid into an approved cooperative bank shall not exceed such amount as may be specified by the State Government generally or specially in respect of any approved co-operative bank.]
