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August 6, 2018
University Grants Commission of India (UGC) asks Registrars of all Universities to Refund Interest Gained against Grants or Aids and Report Compliance
New Delhi, August 6, 2018 — The University Grants Commission of India (UGC) has asked all the Universities to refund the interest against grants or aids released to them.
“All interests earned against grants-in-aid released to university should be mandatorily remitted to the UGC account after finalization of accounts. Any interests earned out of grants-in-aid should not be treated as additional funds over and above the allocation,” the commission said in a communication to Registrars of all Universities.
The UGC has asked the universities to refund the amount at the earliest and send the compliance report to it.
|GlobalGiants.Com|
Edited & Posted by the Editor | 8:40 AM | Link to this Post
