Amendment status not verified — confirm the current text below against the official source.
Power to borrow .- The University may, for any of the purposes prescribed by the Statutes, borrow money from a bank or a corporation. Where the total amount borrowed exceeds rupees five lakhs prior approval of the Government shall be obtained for such borrowing. 1[40. Management of Funds.- All the funds of the university shall be managed in such manner as may be prescribed by the statutes: Provided that the State Government may also issue directions from time to time regarding the management and utilisation of funds. The directions of the State Government shall be final]1