Former DU EC member on central university endowment fund

Former DU Executive Council member said that endowment fund in CUs will lead to private players entering their financial management.

'Privatisation, corporatisation of CUs': Former DU EC member on central university endowment fund

Central universities to have endowment fund

NEW DELHI: Former Delhi University Executive Council member, Rajesh Jha, termed the Ministry of Education’s move to set up endowment funds in central universities ‘a step towards privatization and selling off of universities’. MoE recently issued ‘Guidelines for Central University Endowment Fund’ directing universities to create accounts and CUEF board to get donations and invest funds.

Also Read ‘Senseless’: Several students oppose JEE Main, NEET, CUET merger proposal, express concern

Sharing the guidelines, Jha said in a tweet, “Another concrete step by MoE towards privatization & sell off of the universities in the name of endowment fund – 1. CUs forced to fix targets 2. In the name of donors, the pvt players to enter in CUs’ financial management 3. Corporatisation of CUs (pt 6).”

Jha alleged that in the name of donors for funds, private industries will manage finance of central universities. He called the 6th point in the MoE guidelines which states, “The Governing Board of the endowment fund may decide on how the fund will be managed and the need to open a new section 8 company or trust. If the latter option is taken, then the vice chancellor will be the chairman (ex-officio) of the board of this company or trust,” corporatisation of the universities.

Also Read JEE, NEET, CUET aspirants protest at Jantar Mantar demanding extra attempt

The guidelines include creating a separate bank account for donations, maintenance of separate and transparent accounting, investment of donations for intended purposes, etc. The Board will take the decision about the utilization of funds and place the report in the finance committee meeting of the university.


Follow us for the latest education news on colleges and universities, admission, courses, exams, schools, research, NEP and education policies and more..

To get in touch, write to us at news@careers360.com.


Leave a Comment