Amendment status not verified — confirm the current text below against the official source.
Financial Powers (1) The Authority shall have and maintain its own fund to which shall be credited; (a) All moneys received by the Authority from the State Government by way of grants, loans advances or otherwise; (b) All fees, rents, charges, levies and fines received by the Authority under this Act, (c) All moneys received by the Authority from disposal of its movable and immovable assets; (d) All moneys received by the Authority by way of loan from financial and other institutions and debentures floated for the execution of a scheme or schemes of the Authority duly approved by the State Government. (2) Unless the State Government otherwise directs, all moneys received by the Authority shall be credited to its fund which shall be kept with the State Bank of India and/or one or more of the Nationalized Banks and drawn as and when required by the Authority.