Endowment Fund

Endowment Fund.—(1) The Sponsoring Body shall establish an Endowment Fund to the tune of Rs. 1 Crore for a multi-domain university offering programmes across multiple disciplines.

1. (2) The Endowment Fund shall be kept in a fixed deposit for a period of not less than ten years.
2. (3) The interest accruing on the Endowment Fund may be utilized for the development of the university.
3. (4) The principal amount of the Endowment Fund shall not be withdrawn without the prior approval of the Government.
4. (5) In case of dissolution of the university, the Endowment Fund shall be first utilized for the payment of liabilities to students and employees.