IIT Delhi launches Rs 250 crore Global Alumni Endowment Fund

President Ram Nath Kovind has recently launched the IIT Delhi global alumni endowment fund at Rashtrapati Bhavan that will have an initial commitment of more than Rs 250 crore. As per the scheme, the student will receive an aid of $10,000 from the alumni endowment fund. The aim of the endowment model is to achieve a target corpus of USD 1 billion over a period of 7 years. This first-of-its-kind fund in India will work towards the development of the University, nurturing innovation, and keeping alive the entrepreneurial spirit among the youth of India. 

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