70. INVESTMENTS OF FUNDS
A society shall invest or deposit its funds in one or more of the following :—
(a) in a Central Bank, or the State Co-operative Bank;
(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 : Provided that, no society shall invest more than such proportion of its paid up share capital as may be prescribed: Provided further that, the provisions of this clause shall not apply to any investment made by any agricultural credit society in any processing society based on agricultural produce.
(d) [in any co-operative bank (other than those referred to in clause (a) of this section) or banking company,] approved for this purpose by the Registrar and on such conditions as the Registrar may from time to time impose;
(e) in any other mode permitted by the rules, or by general or special order-of the State Government.