Board Fund

(1) The Board shall have a fund called the Rural Sanitation Fund. (2) The Board may accept grants, subventions, donations and gifts from the Central Government or State Government or a local authority or any individual or body, 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 under this Act, shall be credited to the Fund. (4) Except as otherwise directed by the Government, all moneys and receipts specified in the foregoing provisions and forming part of the Fund shall be deposited in the State Bank of India or in any Scheduled Bank or Co-operative Bank or invested in such securities as may be approved by the Government and shall be operated by such officers as may be authorised by the Board. Explanation.- For the purposes of this section, a Scheduled Bank means a bank included in the Second Schedule to the Reserve Bank of India Act, 1934.