(1) Each of the Corporations shall have its own funds and all receipts of the Corporations shall be carried thereto and all payments for the Corporations shall be made there from.
(2) Each of the Corporations may keep in1[account] with any scheduled bank as defined in section 2 of the Reserve Bank of India Act, 1934 or in any other bank approved by the Central Government in this behalf a sum of money not exceeding such amount as may be prescribed, but any moneys in excess of the said sum shall be deposited in the Reserve Bank of India or with the agents of the Reserve Bank of India or invested in such manner as may be approved by the Central Government.
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1. Substituted for the words "current account" by the Air Corporations (Amdt.) Act (49 of 1971), Section 6 (1-2-1972).