Section 124J(4) in The Maharashtra Regional and Town Planning Act, 1966
(4)Surplus moneys at the credit of the said Fund, which cannot immediately or at an early date be applied for the purposes aforesaid, shall, from time to time, be deposited by the Authority in the bank.Explanation. - For the purposes of this sub-section, the expression "bank" means, -(i)the State Bank of India constituted under the State Bank of India Act, 1955;(ii)a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959;(iii)a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or under section 3 of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1980;(iv)any other bank, being a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934, or being such a bank as may be approved by the State Government.
