Section 31 – Fund

(1) The University shall maintain a Fund to which shall be credited -

• (a) all moneys provided by the Central Government;
• (b) all moneys received from State Governments;
• (c) all fees and other charges received by the University;
• (d) all moneys received by the University by way of grants, gifts, donations, benefactions, bequests or transfers; and
• (e) all moneys received by the University in any other manner or from any other source.

(2) All moneys credited to the Fund of the University shall be deposited in such banks or invested in such manner as the University may, with the approval of the Central Government, decide.

(3) The Fund of the University shall be applied towards meeting its expenses including expenditure incurred in the exercise of its powers and discharge of its duties under this Act.