Amendment status not verified — confirm the current text below against the official source.
47. (1) The University shall establish a permanent endowment fund of at least rupees five crores which may be increased by notification issued in this behalf by the State Government, from time to time. (2) The University shall have power to invest the permanent endowment fund in such manner as may be prescribed. (3) The University may transfer any amount from the general fund or the development fund to the permanent endowment fund. (4) Any amount exceeding the minimum amount specified in sub section (1) may be withdrawn from the permanent endowment fund by the University for the Fund of the University purposes of development of the University.