VTU rejects state government's request for 250 crore rupees from its treasury

The state government requested 250 crore rupees from VTU's treasury for the development of University Worldೇಶ್ವರಯ್ಯ College of Engineering (UVCE) in Bengaluru. VTU's governing council formally rejected the request. The 610 crore rupees in VTU's treasury originated from the Income Tax Department's recovery following a 2014 raid. The university plans to use the interest from a fixed deposit of approximately 500 crore rupees for staff salaries over the next 10 years.