Rono Hills, Oct 5: In what can be called as a red-letter day for the lone Central University of the state, the Rajiv Gandhi University, a tripartite Memorandum of Understanding (MoU) was inked here on Monday between the varsity, Canara Bank and Bank of Baroda that will pave the way for its greater infrastructural development.

 

The signing-in ceremony was attended by RGU Vice Chancellor, Professor Saket Kushwaha, Pro VC Professor Amitava Mitra, Registrar Dr. N.T. Rikam, Statutory Officers, Deans, Joint Registrars, Executive Engineer (i/c), PRO, DDO and Estate Officers. Apart from the officials of RGU, the Managers/Signatories of Canara Bank and Bank of Baroda, RGU Campus were present to complete the formalities. Sharing the details of the MoU, RGU Finance Officer, Professor Otem Padung informed that a total of Rs. 66.59 crore has been sanctioned by the Higher Education Financing Agency (HEFA) for various construction projects in the university namely faculty building for Electronics & Communication Department, extension of main library, 200 bedded hostels (one each for boys and girls), residential quarters and utility/service centre. The VC informed that UGC no longer issues funds for construction of buildings to Central Universities and as per new rules, the Higher Education Financing Agency (HEFA) has been constituted to give loans to universities for construction purposes which have to be repaid later by the university.

 

“These loans are sanctioned only for projects involving revenue generation to bring parity between fund distribution among the old and well-established universities and those in need of funding. This loan was sanctioned by HEFA under the third window/clause of the agreement under which the university will need to pay only the interest on loan amount after completion of the project,” VC elaborated, while hoping that it is the first step towards commencement of many such projects for infra development at RGU. RGU PR

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Kenter Joya Riba

(Managing Editor)
      She is a graduate in Science with post graduation in Sociology from University of Pune. She has been in the media industry for nearly a decade. Before turning to print business, she has been associated with radio and television.
Email: kenterjoyaz@easternsentinel.in / editoreasternsentinel@gmail.com
Phone: 0360-2212313

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