law: Multi-State Cooperative Societies Act, 1984 
  62. Investment of
  
  funds.- 
  
  A multi-State
  
  cooperative society may invest or deposit its funds -
  a.     
  
    in
  
  a cooperative bank, State cooperative bank, cooperative land mortgage bank,
  
  cooperative land development bank or Central cooperative bank; or
  b.    
  
    in
  
  any of the securities specified in section 20 of the Indian Trusts Act, 1882;
  
  or
  c.     
  
    in
  
  the shares or securities of any other multi-State cooperative society or any
  
  cooperative society; or
  d.    
  
    in
  
  the shares, securities or assets of any other institution, with the previous approval
  
  of the Central Registrar; or
  e.     
  
    with
  
  any bank; or
  f.     
  
    in
  
  such other mode as may be prescribed.
  Explanation -  In clause (e),
  
  "bank" means any banking company as defined in clause (e) of section
  
  5 of the Banking Regulation Act 1949, and includes -
               
  
   i.        
  
    the
  
  State Bank of India constituted under the State Bank of India Act, 1955;
              
  
   ii.        
  
    a
  
  subsidiary bank as defined in clause (k) of section 2 of the State Bank of
  
  India (Subsidiary Banks) Act, 1959;
             
  
   iii.        
  
    a
  
  corresponding new bank constituted under section 3 of the Banking Companies
  
  (Acquisition and Transfer of Under-takings) Act, 1970 or a corresponding new
  
  bank constituted under section 3 of the Banking Companies (Acquisition and
  
  Transfer of Undertakings) Act, 1980.