Funds of the Board

(1) The Board shall have two separate funds to be called the Khadi Fund and the Village Industries Fund. All grants and advances made to the funds from time to time by the Government for the purpose of the development of Khadi or the development of Village Industries and all other grants, subventions, donations, gifts and loans received from the Central Government or any State Government or the Khadi and Village Industries Commission or any local authority of any body or organization, whether incorporated or not, or any individual for all or Village Industries Fund, as the case may be, and all payments by the Board for, or in receipt of Khadi and Village Industries shall be made from the appropriate fund. (2) Except as otherwise directed by the Government all moneys belonging to such funds shall be deposited in such manner as the government may, by general or special order, direct or be invested in such securities as may be approved by the Government. The presiding authority shall have the power to correct any obvious errors and to make drafting alternations in the minutes of the meeting provided that such corrections’ or alterations do not change the sense of the decision taken at the meeting.