Section 49 in Veer Narmad South Gujarat University Act, 1965
49. University Fund.
(1)The University shall establish a fund to be called the University Fund.(2)The following shall form a part of or be paid into, the University Fund.(a)any contribution or grant by the State Government, the Union Government, or the University Grant Commission(b)the income of the University from all sources including income from fees and charges(c)bequests, donations, endowments and other grants, if any.(3)The University Fund shall be kept in any scheduled bank has been defined in the Reserve Bank of India Act, 1934 (II of 1934), or in a co-operative bank approved by the State Government for the purpose or invested in securities authorised by the Indian Trusts Act, 1882 (II of 1882), at the discretion of the Syndicate.
