(a)The Fund shall consist of Government grants and donations made from time to time by private individuals and institutions.(b)The contributions to the Fund and the interest earned on the corpus of the Fund and the amounts recovered from the loanees shall be utilised for giving loans to deserving students. The Funds shall be held in the Government Treasuries or Reserve Bank or in securities. Any surplus of a year may be invested in securities approved by the State Government in the Finance Department, and shall form the corpus.
