To meet IoE requirements, Delhi University to launch endowment fund

In video| What is IoE

Under the IoE tag, the varsity will get Rs 1000 crore over a period of five years from the government and aims to raise an equivalent amount from its own. The circular states that DU is currently in top 500 universities globally according to QS World University Ranking and is aiming to be in top 100 over the next 10 years. However, as per the circular, the varsity is ‘lagging in building new institutions in the fields’.

Elaborating on the perks for investing for the cause, DU said that the funds will be “100% tax exemption and has no restriction on the amount of contribution. The donor can choose the area in which his/her contribution should be utilized. The information on the utilization of funds will be displayed on the university website and 50 per cent of the funds earmarked for girl students. There also will be a compulsory audit of the endowment by the Controller and Auditor General (CAG) of India.”

Recently, IIT-Delhi also launched its global alumni endowment fund of Rs 250 crore by over 10 founder alumni in presence of President Ram Nath Kovind. The funds, claimed IIT-Delhi, will be utilised for ‘each one teach one’ scheme under which student will receive aid of $10,000 from the alumni endowment fund to support their education.