Draft bill for private University in state
Source: Hueiyen News Service

Imphal, June 03 2011: Institute of Chartered Financial Analysts of India (ICFAI) will establish a self-financed Institution of Chartered Financial Analysts of India University in Manipur with 25 to 30 acres of land to be provided by the government.

Manipur government has drafted a bill entitled "The Institute of Chartered Financial Analysts of India University (Manipur) Bill-2008".The same has got approval of the cabinet for introduction in the Assembly for passing.

The bill will be introduced in the monsoon session of the Assembly for enforcing an Act, an official source said.

While submitting its proposal, the ICFAI expressed they intended to invest around ' 30 crore in building infrastructure and facilities.

ICFAI plans to offer professional and job oriented programmes in science and technology, management, education, finance, etc.

in the proposed university in consultation with the Manipur government.

The proposed University will be run by a board of governors and board of management.

The Governor of Manipur would be the visitor of the University, said an official.

Once, the bill is enacted as an Act, the sponsoring party shall have the right to establish the University in accordance with the provisions of this Act.

After the establishment of the Endowment Fund, the state government may, by notification in the Official Gazette, accord sanction for establishment of the University, the source maintained.

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