Fund of Board

(1) The Board shall have two separate funds to be called the “Khadi Fund” and “Village” Industries Fund” and all grants and advances made to the funds, form time to time, be the State Government or by the Commission for the purpose of development of khadi or the development of village industries and all other receipts of the Board shall be credited to the “Khadi Fund” or the “Village Industries Fund” as the case may be and all payments by the Board for or in respect of “Khadi or Village Industries” shall be made from the appropriate fund. (2) The Board may accept grants, subventions, donations and gifts and receive loans from Government or a local authority or any body or association, whether incorporated or not, or an individual for all or any of the purposes of this Act. (3) All money belonging to the Board shall be deposited in such manner as the State Government may, by special or general order direct. (4) The accounts of the Board shall be operated upon by such officers of the Board jointly or individually as it may authorize.