Section 66(2) in The M.P. Panchayat Raj Avam Gram Swaraj Adhiniyam, 1993
(2)Subject to the provisions of this Act and the rules made thereunder, all property vested in the Panchayat and the Panchayat Fund shall be applied for the purposes of this Act or for other purposes connected with activities for the development of Panchayats generally or for such other expenses as the State Government may approve on an application of Panchayat or otherwise in the public interest. The Panchayat Fund shall be kept in the nearest Government Treasury or Sub-Treasury or Post Office or Co-operative Bank or Scheduled Bank or its branch.
