Section 64. Investment of funds

64. Investment of funds.— A multi-State co-operative society may invest or deposit its funds — (a) in a co-operative bank, State co-operative bank, co-operative land development bank or Central co-operative bank; or 1[(b) in any of the securities issued by the Central Government, State Government, Government Corporations, Government Companies, Authorities, Public Sector Undertakings or any other securities ensured by Government guarantees;] (c) in the shares or securities of any other multi-State co-operative society or any co-operative society; or (d) in the shares, securities or assets of a subsidiary institution or any other institution;[2] [in the same line of business as the multi-State co-operative society] or 3 [(e) with any other scheduled or nationalised bank. Explanation .--For the purposes of this clause, the expression,— (i) "scheduled bank" shall have the same meaning as assigned to it in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934); and (ii) "nationalised bank" means a corresponding new bank constituted under sub-section (1) of section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980); or (f) in such other manner as may be determined by the Central Government.]