Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall have and maintain its own fund to which shall be credited, -- (a) all moneys received by the Board from the Government by way of grants, loans, advances, donations, gifts or otherwise or from any other source; (b) all moneys received by or on behalf of the Board under this Act including the sale proceeds of lands and other kinds of property sold by the Board, all rents and all interests, profits, or other moneys accruing to the Board under this Act. (2) The Board may keep in current account of the State Bank of India or any other Bank approved by the Government in this behalf such sum of money out of its funds as may be prescribed by rules and any money in excess of the said sum shall be invested in such manner as may be approved by the Government. (3) The Government may make such grants, advances and loans to the Board as it may deem necessary for the performance of the functions under this Act and all grants, loans and advances so made shall be on such terms and conditions as the Government may determine. Power of the Board to borrow and lend