Kerala Agricultural University to pledge land for ₹40 crore loan amid financial crisis
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Home News Kerala

Kerala Agricultural University to pledge land for ₹40 crore loan amid financial crisis

by Janam Web Desk
Sep 18, 2023, 10:59 am IST
in Kerala

Thrissur: Kerala Agricultural University, facing a financial crisis, is set to pledge land to secure a loan of ₹40 crore, which will be used to launch new diploma courses, post-graduate research programmes, and clear pending arrears.

The move to seek a substantial loan was made to kick-start new educational initiatives and resolve lingering financial issues. To implement this decision, the university’s Vice Chancellor (VC) has been entrusted with the responsibility of consulting with the Pro-Chancellor and the Agriculture Minister.

The university administration is considering obtaining the loan from nationalised banks or the Kerala Bank, with the VC authorised to make the final decision. This development comes after a directive was issued by the university’s registrar on the 14th, instructing the VC to take necessary action in collaboration with the Pro-Chancellor and the Agriculture Minister.

Additionally, the university’s governing body has recommended introducing higher fee rates for the new diploma courses and postgraduate research programs. It is also proposed to charge higher fees for NRI and international student admissions. To enable these changes, an amendment to the university’s rules has been suggested, pending government approval. These measures are seen as essential steps to alleviate the institution’s financial crisis.

Despite these decisions, concerns have been raised among the faculty and staff regarding the university’s ability to repay the substantial loan.

Kerala Agriculture University’s governing body, which has not been reconstituted for four years, has been the source of controversy due to the significant decisions it has taken. Some faculty members have expressed concerns about the university’s financial stability and the potential impact of these decisions on its long-term sustainability.

Ollur MLA and university governing body member, Minister K. Rajan, has been actively involved in discussions surrounding the institution’s financial situation. However, some stakeholders believe that Agriculture Minister P. Prasad has not been adequately involved in the university’s administrative matters.

Dr. B. Ashok, who is currently overseeing the role of the VC, simultaneously holds positions as the Secretary of the Department of Agriculture and the Commissioner of Agriculture Production. This overlapping of roles has also raised questions regarding potential conflicts of interest in the decision-making process.

Tags: MAINFINANCIAL CRISISKerala Agriculture UniversityOllur MLAMinister K. Rajan
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