IIT Delhi creates a $1bn endowment fund; gets contributions from Flipkart Founders
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India's prestigious educational institute IIT-Delhi sets up an endowment fund of $1 billion by 2025. It was formally launched by President Kovind. The fund will be used for student scholarships and developmental activities. It has already collected Rs 250 crore, of which Rs 125 crore has been pledged by its famous alumni- Flipkart founders. Binny has reportedly donated Rs 100 crore and Sachin Bansal has donated Rs 25 crore.