Section 66 in The Dr. Babasaheb Ambedkar Technological University Act, 1989
66. University fund.
(1)The University shall establish a fund to be called the University Fund.(2)The following shall form part of, or be paid into, the University Fund:-(a)any contribution or grant made by the State or Central Government, University Grants Commission, All India Council for Technical Education or any other authority;(b)the income of the University from all sources including income from fees and charges and sale proceeds, if any; and(c)all income or moneys from trusts, subventions, bequests, donations, endowments and other grants, if any received by the University.(3)The University Fund shall, at the discretion of the Executive Council, be kept in the State Bank of India, or in any Scheduled Bank as defined in the Reserve Bank of India Act, 1934, which holds a licence issued by the Reserve Bank of India under section 22 of the Banking Regulation Act, 1949, or in a Co-operative Bank approved by the State Government for the purposes of the University, or be invested in securities authorised by the Indian Trusts Act, 1882, or, subject to the maximum limit of rupees five lakhs, in the Unit Trust of India or in the shares of, or by giving loans to the consumers' co-operative societies established for the purposes of the University, or any recognised institution.
