Endowment corpus of ₹150 crore created by PRSU

Prof Rajendra Singh (Rajju Bhaiya) University of Prayagraj (PRSU) has established an endowment corpus of ₹150 crore to support growth of its infrastructure, research and innovation development needs in coming years.

Using this fund, the varsity also plans to confer scholarships to financially weak research scholars and students who need financial assistance to complete their higher education on its campus, said varsity officials while confirming the development.

So far, this ‘Akshay Nidhi’ has been established for more than half-a-dozen initiatives in the state university. In this, the maximum corpus of ₹50 crore has been created for development needs, shared PRSU vice-chancellor Prof Akhilesh Kumar Singh.

From building construction to other infrastructure development work will be done in the campus using this fund. Likewise, ‘Akshay Nidhi’ of ₹10 crore has been created for research and ₹10 crore for developing an Information Technology Centre (IT), he added.

Corpus of ₹5 crore has also been established for awarding scholarships to economically weak students, ₹15 crore funds for setting up an incubation centre, ₹15 crore for library, ₹10 crore for learning resources and others, he added.

The vice-chancellor said that so far ‘Akshay Nidhi’ of ₹150 crore has been established in the state university, but the plan is to further increase it to ₹500 crore. For this, money has been collected from university’s own resources, funds received through some government grants as well as support from corporate sector. More money will be collected from other sectors to increase the funds and make it a ₹500 crore corpus in coming years, the VC said.

Formerly known as Allahabad State University, PRSU was established in 2016. It has around 741 affiliated colleges, including Prayagraj (399), Kaushambi (83), Fatehpur (82) and Pratapgarh (177). These include government-run, government-aided and self-financed colleges.