Section 25 of RGIPT : Section 25: Setting Up Of Endowment Fund
RGIPT
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Explanation using Example
Imagine that the Rajiv Gandhi Institute of Petroleum Technology (RGIPT) wants to support research in renewable energy. To ensure sustainable funding, RGIPT decides to create a specific pool of money solely for this purpose. According to Section 25 of The Rajiv Gandhi Institute of Petroleum Technology Act, 2007, the institute has the authority to:
- Establish a renewable energy research endowment fund, where donations from alumni, industries, and other contributors can be accumulated.
- Move some of its general funds into this new endowment fund to kick-start the initiative and ensure that there are adequate resources for the research projects.
By doing so, RGIPT ensures that there is a dedicated and consistent source of funding for renewable energy research, which can help drive innovation and development in this critical field.
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