State Act
Section 83. Commissioner to receive payments on account of Municipal Fund and to lodge them in a bank.
The Maharashtra Municipal Corporations Act
83. Commissioner to receive payments on account of Municipal Fund and to lodge them in a bank.— All moneys payable to the credit of the Municipal Fund shall be received by the Commissioner and shall be forthwith paid into the Imperial Bank of India 4[or any other scheduled bank] 5[or an approved co-operative bank] to the credit of an account which shall be styled “the account of the Municipal Fund of ...............................................................” : Provided that the Commissioner may, subject to any general or special directions issued by the Standing Committee, retain such balances in cash as may be necessary for current payments : 1[Provided further that the amount of money to be paid into an approved co-operative bank shall not exceed such amount as may be specified by the State Government generally or specially in respect of any approved cooperative bank.]