Vidhi Codex

Rajiv Gandhi Fintech Digital Institute Act

The Rajiv Gandhi Fintech Digital Institute Act, 2023

General202346 sections

This Act establishes the Rajiv Gandhi Fintech Digital Institute in Jodhpur, Rajasthan, as an autonomous, degree-granting university operating under a public-private partnership. It regulates the institute's governance, academic programs, staff appointments, and financial operations. The law applies directly to the university's administrators, teachers, students, and collaborating industry partners. This legislation matters because it addresses the escalating demand for financial technology expertise by training a skilled workforce, supporting student employment, and incubating new startups. Ultimately, it aims to drive economic growth and establish the state of Rajasthan as a premier hub for research and technological innovation.

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  1. 1. 1. Short title, extent and commencement.
  2. 2. 2. Definitions.
  3. 3. 3. Establishment and incorporation of the Institute.
  4. 4. 4. Institute open to all classes and creed.
  5. 5. 5. Objects of the Institute.
  6. 6. 6. Powers and functions of the Institute.
  7. 7. 7. Officers of the Institute.
  8. 8. 8. Chairperson.
  9. 9. 9. Powers and functions of the Chairperson.
  10. 10. 10. The Founding Director and Director.
  11. 11. 11. Powers and functions of the Founding Director and Director.
  12. 12. 12. The Registrar.
  13. 13. Dean.
  14. 14. Finance Officer.
  15. 15. Authorities of the Institute.
  16. 16. 16. Governing Board.
  17. 17. 17. Powers and functions of the Board.
  18. 18. 18. The Academic Council.
  19. 19. 19. Finance and Procurement Committee.
  20. 20. 20. Outreach and Industry Alliances Committee.
  21. 21. 21. Other Authorities.
  22. 22. 22. Staff of Institute.
  23. 23. 23. Appointment and promotion of faculty members, officers and other employees.
  24. 24. 24. Grant-in-aid by State.
  25. 25. 25. Fund of the Institute.
  26. 26. 26. Budget of the Institute.
  27. 27. 27. Accounts and Audit.
  28. 28. 28. Annual Report.
  29. 29. 29. Pension or provident fund.
  30. 30. 30. Surcharge.
  31. 31. 31. Power to make rules.
  32. 32. 32. Power to make regulations.
  33. 33. 33. Authentication of orders and instruments.
  34. 34. 34. Acts and proceedings not to be invalidated by vacancies etc.
  35. 35. 35. Grant of degrees, diplomas etc.
  36. 36. 36. Recognition of Technical Qualifications granted by the Institute.
  37. 37. 37. Power of the State Government to issue directions.
  38. 38. 38. Power of the State Government to cause inspection.
  39. 39. 39. Returns and Information.
  40. 40. 40. Execution of contracts.
  41. 41. 41. Transfer of property.
  42. 42. 42. Filling of casual vacancies.
  43. 43. 43. Protection of persons acting under this Act.
  44. 44. 44. Members and employees of the Institute to be public servants.
  45. 45. 45. Mode of proof of the record.
  46. 46. 46. Power to remove difficulties.

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