Section 6 in Chhattisgarh Private Universities (Establishment and Operation) Rules, 2005
6. Income from Endowment Fund.
(a)The Regulatory Commission shall pay to the Sponsoring Body interest on the amount of the Endowment Fund at the rate at which the State Bank of India pay the interest, during the period under consideration, on the Savings Bank Account.(b)Income from the Endowment Fund shall be deposited in a Joint Savings Bank Account opened in a Scheduled Commercial Bank. Joint Account will be in the name of the Sponsoring Body and "Chhattisgarh Private Universities Regulatory Commission".(c)Income from the Endowment Fund shall not be invested in any business connected directly or indirectly with the Sponsoring Body. This Income shall be used only for the development of the University.
