Kohima, Dec 19 (MExN): The Institute of Chartered Financial Analysts of India University (Nagaland) Bill, 2005 has been introduced in the just concluded assembly session of the Nagaland Legislative Assembly in Kohima.
The bill is to establish and incorporate a private university in the state with emphasis on providing high quality and industry relevant education in the areas of accounting, financial analysis and management, business management, applied science and technology, law, education, medical sciences and related areas sponsored by the Institute of Chartered Financial Analysts of India (ICFAI), Hyderabad, Andha Pradesh and to provide for matters connected therewith or incidental thereto.
The state government had signed a memorandum of Understanding with the ICFAI, Hyderabd on August 25, 2005, for allowing the said institute to establish a private university in the state to offer professional and other courses of study in accounting, law etc, to the students community in the state and outside Nagaland. “The establishment of the private university will not cast any additional financial burden on the state government.
On the other hand, as per the regulations of the UGC, namely, the University Grants Commission (Establishment of and Maintenance of Standard in Private University) regulations, 2003, key control of the private university particularly in the matter of protecting the interest of the students community of Nagaland, will be vested in the Governor of Nagaland, in the state government and, as per law, in the hands of the University Grants Commission,” said minister for higher education Dr, Shurhozelie Liezietsu in the statement of objects and reasons.
There will accordingly be no expenditure on the consolidated funds of the state of Nagaland on account of enactment of bill, according to a financial memorandum.
The University shall be open to all persons irrespective of class, caste, creed, religion, language or gender. It is also stated, “ Provided that nothing in this section shall be deemed to prevent the university from making special provisions for admission in favour of students from the state of Nagaland.”
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