Borrowing of money

The University may accept money from the Government of India, the State Government, the Indian Council of Agricultural Research, National Fisheries Development Board and any other agencies and also borrow money from a Bank or a Corporation, for the purposes of the University: Provided that where the University intends to borrow money from a Bank or a Corporation or both, exceeding an amount of Rs 50,000/- (Rupees fifty thousand only) at a time or in the aggregate, it shall obtain the prior written approval of the Government therefor.