Deposit and administration of the funds

(1) The farmers‟ organisation shall keep their funds in a Nationalised Bank or a Co-operative Bank, namely a Primary Agricultural Cooperative Society or the District Cooperative Central Bank or the Telangana State Co-operative Central Bank.

(2) The funds shall be applied towards meeting of the expenses incurred by the managing committee of the concerned farmers‟ organisation in the administration of this Act and for no other purpose.