70.Investment of funds
A society shall invest or deposit its funds in one or more of the following :—
(a) in a District Central Co-operative Bank or the State Co- operative Bank, having awarded at least “A” Audit Class in last three consecutive years ;
(b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882;
(c) in the shares, or security bonds, or debentures, issued by any other society with limited liability and having the same classification to which it belongs ;
(d) in any other mode permitted by the rules, or by general or special order in that behalf by the State Government :]
Provided that, no society shall invest more than such proportion of it’s paid up share capital as may be prescribed :
Provided further that, the co-operative credit structure entity shall invest its funds subject to guidelines as may be issued, from time to time, by the Reserve Bank of India.]
.jpg)
