The funds of AISTDF shall be operated through a savings bank account under the name ASEAN-India Science & Technology Development Fund (AISTDF). The bank account shall be opened in any nationalised bank in India and shall be operated by authorised signatories nominated by Governing Council for this purpose. The Finance, Accounts and Bank operations related aspects of AISTDF shall be managed and handled by Science & Engineering Research Board (SERB).
The equivalent amount of 5 Million US$ of AISTDF shall be maintained separately in any nationalised bank in New Delhi. The AISTDF related S&T activities shall be supported from the principal amount released by MEA and DST, interest accrued thereon, and sources of fund as stated in section xx. Any additional requirement of funds for supporting the approved activities under ASEAN-India S&T Cooperation shall be jointly and equally shared by DST and MEA on the basis of actual requirement to support approved activities under AISTDF. The validity of the AISTDF would be till 31st March 2022.
The Secretariat of AISTDF shall be housed at appropriate and suitable place in National Capital Region Delhi (Science & Engineering Research Board) and shall function in accordance with the Rules and Regulations to be framed by Governing Council separately. The staff/ employees of the AISTDF Secretariat shall be appointed by Governing Council on contractual /loan basis. The day to day scientific activities shall be coordinated by IMRC Division DST with ASEAN Secretariat and AISTDF Secretariat.
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