University Grants Commission asks varsities to refund interest against grants or aids
The UGC has asked the universities to refund the amount at the earliest and send a compliance report to it.
"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 varsities.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)