State Act

THE MAHATMA GANDHI UDYANIKEE EVAM VANIKEE VISHWAVIDYALAYA ADHINTYAM, 2019

36. University fund.- (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 loan, contribution or grant by Central or State Government or any body corporate; (b) the income of the university from all sources including income from fees and charges; (c) trusts, bequests, donations, endowments and other grants, if any; (d) all other sums received by the University. (3) The University Fund shall be kept in any scheduled bank or banks as defined in the Reserve Bank of India Act, 1934 (No.2 of 1934), or such other Banks as may be approved by the Reserve Bank of India or invested in securities authorised by the Indian Trust Act. , 1882 (No. 2 of 1882), at the descretion of the Board. (4) Nothing in this section shall in any way affect and obligations accepted by or imposed upon the University by any declaration of trust executed by or on behalf of the University for the administration of any trust.