Amendment status not verified — confirm the current text below against the official source.
(1) The University shall establish a fund to be called the University Fund. (2) The following shall form part of or be paid into, the University Fund:— (a) any contribution or grant by the State Government, Union Government, or the University Grants Commission; (b) the income of the University from all sources including income from fees and charges; (c) bequests, donations, endowments and other grants, if any. (3) The University Fund shall be kept in any scheduled bank as defined in the Reserve Bank of India Act, 1934, or in a co-operative bank approved by the State Government for the purpose or invested in securities authorised by the Indian Trusts Act, 1882, at the discretion of the Syndicate. 71[(4) Any grant given by the Government of India for the purpose of Post- Graduate Teaching and Research shall be applied for meeting— (a) expenses incurred for that purpose; and (b) expenses incurred by the Board of Post-Graduate Teaching and Research in exercise of its powers and performance of its duties under section 20B.]