Section 89(e) in The Board of Secondary Education (Madhya Pradesh) Regulations, 1965
(e)to invest, subject to the provisions of the Act, any moneys belonging to the Board including any unapplied income, in any of the securities described in Section 20 of the Indian Trust Act, 1982 or in the purchase of immovable property in India with the like power of varying such investment, or to place in fixed deposit in any bank approved in this behalf by the Board, any portion of such money, not required for immediate expenditure;
