Section 154B-17 : Investment of funds

A society shall invest or deposit its funds in one or more of the following: —

(a) in a District Central Co-operative Bank, the State Co-operative Bank, having awarded at least “A” Audit Class in last three consecutive years, if no such Central Co-operative Bank is available in district, then any Nationalised Bank;

(b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882;

(c) in the shares, or security bonds, or debentures, issued by any other society with limited liability;

(d) in any other mode permitted by the rules, or by general or special order issued in that behalf by the State Government