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 therefor.
27.Certain restrictions in respect of financial matters - The University shall not without the prior approval of the Government, divert earmarked funds for other purposes or upgrade any post or revise the scales of pay of its staff or implement any Schemes which involve any matching contribution from the Government or create a post or posts resulting in recurring liability on the Government either immediately or in future:
Provided that the Executive Council may authorise the creation and filling up of posts of teachers for a period not exceeding one year but any such post or posts shall not be continued or created afresh for any period beyond the said period of one year without prior approval of the Government.