Foreign varsities to shell Rs. 50 cr. for registration


New Delhi: Publishing a prospectus for a foreign university to settle in India is mandatory according to the Foreign Educational Institu-tions (regulation of entry and operation) Bill, which does not allow them to repatriate profit made from Indian campus through education.
According to the Bill, new education providers settling down in India ought to deposit a corpus of Rs.50 crore with the body that will register them, which is the University Grants Commis-sion (UGC).
Although the foreign universities will have to go through a series of registrations at various levels, but the bill promises time bound registration to them.
After going through the application, the UGC would further advice the government if the university could be allowed to function in India.
In case a foreign education provider wants to set up a campus in collaboration with a private Indian university, a ministry source said that, β€œIt would be the responsibility of the foreign education provider to come forward with the details of registration and collaboration.”

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