Bhubaneswar: The president of India, Ramnath Kovind, urged the alumni of universities to create an endowment fund for the development of the institution.

Addressing the closing ceremony of Utkal University’s Platinum Jubilee year long celebrations, Kovind said the endowment fund not necessarily be used for infrastructure building but also creating Centre of Excellencies.

The President said that the alumni of IIT Delhi four months decided to create an endowment fund for the institution. By now, the Fund has become Rs250 crore.

“I do not suggest anything about the size of the Fund, but it should be created for the institution”, Kovind said adding, ” Not necessarily the alumni get connected only by contribution to the endowment fund but also sharing knowledge and wishdom.

The Odisha governor, Ganeshi Lal, chief minister Naveen Patnaik, union petroleum minister Dharmendra Pradhan, State higher education minister Arun Sahoo and the university vice chancellor Soumendra Patnaik addressed the closing ceremony.