Amendment status not verified — confirm the current text below against the official source.
Board’s fund.- (1) The Board shall have its own fund. (2) The Board may accept loans, grants, subventions, donations and gifts from the Central Government or State Government or a local authority or any individual or body or organisation whether incorporated or not, for all or any of the purposes of this Act. (3) All moneys received by or on behalf of the Board by virtue of this Act, all proceeds of land or any other kind of property sold by the Board, all charges, all interests, profits and other moneys accruing to the Board shall constitute the fund of the Board. (4) All moneys and receipts specified in the foregoing provisions and forming part of the fund of the Board shall be deposited into the public accounts of the Government under such detailed head of accounts as may be prescribed or in,- (a) the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (Central Act 12 of 1934); or (b) the State Bank of India constituted under the State Bank of India Act, 1955 (Central Act 23 of 1955); or 1[(bb) any Scheduled Bank ; or]1