(1) The University shall maintain such Indian currency or foreign currency accounts as may be necessary for its operations.
(2) The Vice-Chancellor may order opening of various bank accounts, authorise signatories to operate bank accounts, modify signatories to operate bank accounts or order closure of all or any of the bank accounts of the University.
(3) The Vice-Chancellor shall authorise officials to sign cheques and pay orders issued on behalf of the University and all cheques and pay orders shall be signed by two officials.
(4) The authority to any person to sign cheques and pay orders is delegated on a personal basis and shall not be reassigned by such person.
(5) The Finance Officer shall ensure that there are sufficient funds in the bank account when cheques and other payment instructions are issued.
Exchange of Currencies
11. Officials responsible for the operation of the Nalanda University bank accounts shall not exchange one currency for another, except to the minimum extent necessary for the transaction of official business.
Cash advances