Funds of the University

Funds of the University.—

1. (1) There shall be a fund for the University to be called the University Fund, which shall include,—
   • (i) any contribution or grant provided by the Central or State Government;
   • (ii) any contribution or grant provided by the University Grants Commission;
   • (iii) any contribution or grant provided by the Industrial establishments, corporates or business houses;
   • (iv) any bequests, donations, endowments or other grants provided by private individuals and other Trusts, public or private;
   • (v) income received by the University from fee and charges; and
   • (vi) amounts received from any other source.
2. (2) The amount in the Fund shall be kept in a scheduled bank or banks as decided by the Board of Governors.
3. (3) The Funds may be utilized for such purpose of the University and in such manner as may be prescribed by regulations.