The cash balance of the irrigation panchayat fund shall be kept by the

166. The cash balance of the irrigation panchayat fund shall be kept by the sarpanch in the name of the irrigation panchayat fund, in the nearest post office saving bank or In a neighbouring co-operative bank or with the previous approval of the Canal Deputy Collector, with any respectable person residing in the village provided that any amount not exceeding Rs. 25 may be kept in custody of any panch for current expenditure.