Endowment Fund

(1) The Sponsor shall establish an endowment fund of rupees three crores in form of FDR in favor of University; pledged to the State Government, opened in a nationalized bank. (2) The University shall have power to invest the endowment fund in such a manner as may be prescribed ; (3) The University may transfer any amount from the general fund or the development fund to endowment fund, Excepting in the dissolution of the University, in no other circumstances can any money be transferred from the endowment fund for other purposes ; (4) Not exceeding 75 percent of the income received from the endowment fund shall be used for the purpose of development work of the University. The remaining 25 percent shall be reversed into endowment fund.