Borrowing of Money

The University may accept moneys from the Government of India, Indian Council of Agricultural Research the State Government, the University Grants Commission and also borrow money from a Bank or a corporation for the purpose of the University: Provided that where the University intends to borrow money from a Bank or a corporation or both exceeding an amount of fifty lakhs of rupees at a time or in the aggregate, it shall obtain the prior written approval of the Government thereof.