General Funds

(1) The University shall, establish a General Fund to which the following amount shall be credited, namely, - (a) all fees which may be charged by the University; (b) all sums received from any other sources; (c) all contributions made by the sponsoring body; and (d) all contributions made in this behalf by any other person, institutions or bodies which are not prohibited by any law for the time being in force. (2) The money credited to the general fund shall be applied for development of the University and to meet all the expenses for it's smooth functioning.