Section 26(e) in Jharkhand University of Technology Act, 2011
(e)Amounts received from any other source.(ii)The amount of the said fund shall be kept in a Scheduled Bank as defined in the Reserve Bank of India Act, 1934 (Central Act No. 2 of 1934), or in a corresponding new Bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(Central Act No. 5 if 1970) and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (Central Act no. 40 of 1980) or may be invested in such securities authorized by the Indian Trust Act, 1982(Central Act No. 11 of 1982), as may be decided by Executive Council.(iii)The said fund may be utilized for such purpose of the University and in such manner as may be prescribed by the Rules.
