Borrowing of money

The University may accept money from the Government of India, the State Government, the University Grants Commission, 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. 10,00,000 at a time or in the aggregate, it shall obtain the prior written approval of the Government therefor.