Section 24. Establishment of Digital Bharat Nidhi.

(1) The Universal Service Obligation Fund created under the Indian Telegraph Act, 1885 (13 of 1885), shall, from the appointed day, be the “Digital Bharat Nidhi”, under the control of the Central Government, and shall be used to discharge functions as set forth in this Act. (2) Any sums of money attributable to the Digital Bharat Nidhi that is paid pursuant to an authorisation under section 3, shall be credited to the Digital Bharat Nidhi. (3) The balance to the credit of the Digital Bharat Nidhi shall not lapse at the end of the financial year. (4) All amounts payable under licences granted prior to the appointed day towards the Universal Service Obligation, shall be deemed to be the amounts payable towards the Digital Bharat Nidhi.