Permanent Endowment Fund: -

46. Permanent Endowment Fund: - (1) The sponsoring body shall establish a permanent endowment fund of Rs 10 Crore or 7 Crore as per the provisions under section-4(2). (2) A Private University shall invest the permanent endowment fund in the form of Fixed Deposit Receipt of the amount as per section-46(1) in the form of Central/State झारखण्ड गजट (असाधारण) सोमवार, 25 नवम्बर, 2024 government securities to be deposited in an interest bearing Personal Deposit Account (PDA)of the Government Treasury. (3) A Private University may transfer any amount from the general fund or the development fund to the permanent endowment fund. (4) A Private University may utilize the income from the permanent endowment fund for the development of infrastructures and not recurring expenditure of the University. (5) Further a Private University must always maintain an amount as per section-46(1) in the permanent endowment fund.