Amendment status not verified — confirm the current text below against the official source.
(1) The fund of the Authority shall be deposited with the Nationalized bank or other reputed bank approved by Reserve Bank of India, by opening a account as the Authority or Executive Committee may determine and shall be operated by the Chief Executive officer or Additional Chief Executive officer and the finance Officer or such other Officer as the Authority may authorize in this behalf. (2) Authority may open such number of Bank Accounts of the Authority at such places as it may deem necessary. (3) The Authority shall prepare in such form and at such time, as may be prescribed, its budget for the next financial year showing the estimated income and expenditure and shall forward a copy thereof to the State Government before February 15 every year such budget be laid before the Authority in the annual general meeting for approval. Accounts and Audit