(1) The Umverslty shall establ'sh a fund to be called the UniversityFundtc whichthefollowvngshallbecredited.namew•:—
(b) any contributÉn Of grant by the State Government.
Central Government. D'stance Education Council, Indira GandhiNationalOpenUniversity.IndustrialUndertakings.
Corporations Companies. Associations, Other bodies or authorities:
any incomeof the Unversity from all sources including incomefrorn fees and charges and sale proceeds.
bequests. donations_endowmentsand other grants, if any. received by Unwets'ty: and muscenanec•Æ recap's
(2) The Universdymay.fromtyne tc "me. establishsuchotherfunds insuchnameandfor suchspecificpurposesasmaybedecidedbythe Board OfManagement in consultations with Government
(3) Thefundshallbe keptw aNationalisedBankor ScheduledBank or investedin such securitiesas may be decidedby the Boardof Management
(4) Thefundsandaumoneysof theUnversityshallbemanagedin suchmanners asmay be prescröed by the Statutes
(5) Universitymay. with previousapproval of the Government as regardsthe purposeand amountcf loan.and subject to such conditionsas maybespecifiedbytheGovernmentastosecurityandrateofinterest.borrow anysumofmoneyfromanyNaticnal•sedBankorScheduledBankorany other corporatebody or any financial institution.
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