The University of Delhi, informally known as Delhi University (DU), is a collegiate, public, central university located in New Delhi, India. It was founded in 1922 by an Act of the Central Legislative Assembly and is recognized as an Institute of Eminence (IoE) by the University Grants Commission (UGC). As a collegiate university, its main functions are divided between the academic departments of the university and constituent colleges. Consisting of three colleges, two faculties, and 750 students at its founding, the University of Delhi has since become India's largest institution of higher learning and among the largest in the world. The university has 16 faculties and 86 departments distributed across its North and South campuses. It has 77 constituent colleges and five other institutes. The Vice President of India serves as the university chancellor.