Section 28 in The Rashtriya Raksha University Act, 2020.

Title: Grants by Central Government.

Description: For the purpose of enabling the University to discharge its functions efficiently under this Act, the Central Government may, after due appropriation made by Parliament by law in this behalf, pay to the University in each financial year such sums of money in such manner as it may think fit.

Title: Grants by State Governments.

Description: The University may receive such sums of money as grants-inaid annually or as one-time grant from any State Government.

Title: Corpus of University.

Description: The University may receive funds from the Central Government or State Governments or other sources or use its funds to maintain and operate a corpus of the University.

Title: Fund

Description: (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.

Title: Accounts and audit

Description: (1) The University shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance-sheet in such form and accounting standard as may be specified, by notification, by the Central Government in consultation with the Comptroller and Auditor-General of India. (2) The accounts of the University shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by it in connection with such audit shall be payable by it to the Comptroller and Auditor-General of India. (3) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the University shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of the Government accounts, and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the offices of the University. (4) The accounts of the University as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament.

The Rashtriya Raksha University Act, 2020.