"(i) In the case of self-financed institutions including Government or Government aided institutions oruniversities running a programme on self-financing basis, where the Letter of Intent (LOI) is issued under sub-regulation (13) of regulation 7. there shall be an endowment fund of five lakh rupees per programmeand a reserve fund of seven lakh rupees per programme. in the form of a fixed deposit in the joint name of an authorised representative of the management and the National Council for Teacher Education, which shall be maintained centrally by a Nationalised Bank(s) identified and notified for the purpose by the National Council for Teacher Education.
(ii) The existing institutions shall be allowed to encash their existing Fixed Deposit Receipts and ensure deposit of funds, within seven working days of encashment in the manner specified above in the Bank identified by the Council, provided it shall be completed within a period of three months of publication ofthis notification.
(iii) Fifty per cent of interest accrued on the joint Fixed Deposit Receipts towards the Endowment Fund and Reserve Fund shall be used by National Council for Teacher Education for the purpose of capacitybuilding of the Teacher Education Institutions and also National Council for Teacher Education Staff soalso development and maintenance of a sophisticated National Teacher Portal and the amount so accrued shall be maintained as a distinct corpus fund by National Council for Teacher Education and the remaining fifty per cent of interest shall accrue to the concerned teacher education institution".