Section 27. Power to Borrow

The University may accept moneys 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 fifty thousand rupees at a time or in the aggregate, it shall obtain the prior written approval of the Government therefore.