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Section 27 – The State Agricultural Credit Corporations Act,1968

The State Agricultural Credit Corporations Act,1968

Section 27. Investment of surplus Funds

All moneys belonging to the Corporation which may not, for the time being be required by it shall be-

(a) Deposited with the Reserve Bank or in consultation with the Reserve Bank with a scheduled Bank, State Co- operative Bank ;or Central Co-operative Bank; or

(b) Invested in the securities of the Central Government or any State Government or ;in securities in which a trustee may invest money under clause (a), clause (b), clause(bb), clause (c) or clause (d) of section 20 of the Indian Trusts Act ,1882 (2 of 1882); or

(c) Utilised in such other manner as may be approved by the Reserve Bank.

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The State Agricultural Credit Corporations Act,1968

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