Section 101: Operation of the Accounts.

(1) Save as otherwise provided in this Act no payment shall be made by the State Bank of India out of the Municipal Fund except on a cheque signed by both—

(a) the Chief Accountant or an officer subordinate to him authorised by the standing Committee in this behalf; and (b) the Commissioner or a Deputy Commissioner or an officer subordinate to the Commissioner authorised by the Standing Committee in this behalf.

(2) Payment of any sum due by the Corporation in excess of one hundred rupees shall be made by means of a cheque signed in accordance with sub-section (1) and not in any other way.

(3) Payments hot covered by sub-section (2) may be made in cash.