President is the custodian
A contingency fund is an amount of money placed aside to be used when a certain event (the contingency) occurs. A common example is a contingency fund for risks in a project. If the risk occurs, the money is used to mitigate the risk. Without a contingency fund, any risks coming to pass would become uncovered expenses.
Supreme court of India
When buying a house it is always wise to have a contingency fund in order to deal with unexpected expenses.
RBI
yes
(1) A Mutual Fund promoter company: Their role is to settle a Trust owning all fund assets. That trust will invest all fund money in the name of the trust. (2) Trustee of Mutual Fund: Trustee has to be a bank. (3) Fund Manager: Their role is to invest and daily operations. They are investment advisers approved by Capital Markets Authority/Securities Exchange Commission. (4) Custodian: Custodian holds custody of all the assets of the fund. They have to be a bank or approved institution authorized to act as Custodian by Capital markets Authority/ Security Exchange Commission. (5) In addition Investment Banks/Brokers will be retained to market the Mutual Fund. Their role is to get subscription into the fund.
Basheer Khan Muhammed
Custodian provide a service to keep security in physical form and particiapate in clearing and settlement process for Brokers and clients. there are following types of services provded by the custodians: 1.Recrod keeping for fund hopuses and brokering firms. 2.Participitae in clearning and settlement process for brokers and fund houses 3.Corporate action processing for issuers 4.Fund administrator for Fund houses 5. wtach dog for investors Assets
sbi matual fund
samarth
BNP Paribas
Government of India