Permanent Endowment Fund

The Sponsoring Body shall establish a Permanent Endowment fund of at least of Rupees 05 (Five) crore for plane areas and Rupees 3 (Three) crore for hill areas in the form of a Bank Guarantee of a Nationalized Bank Pledged in the name of State Government for a period of 05 (five) years and it shall be renewed after every five years and after every five year the said Bank Guarantee shall be increased by 25 percent.