Section 23 in National Institute of Design Act, 2014
23. Fund of Institute.
(1)[Every Institute] [Substituted 'The Institute' by Act No. 38 of 2019, dated 29.11.2019.] shall maintain a Fund to which shall be credited-(a)all moneys provided by the Central Government;(b)all fees and other charges received by the Institute;(c)all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers; and(d)all moneys received by the Institute in any other manner or from any other source.(2)All moneys credited to the Fund shall be deposited in such banks or invested in such manner as the Institute may, with the approval of the Central Government, decide.(3)The Fund shall be applied towards meeting the expenses of the Institute including expenses incurred in the exercise of its powers and discharge of its duties under this Act.
