Odisha (Orissa) Govt Gazette notifies ICFAI Act 2009 to Establish Self-financed Private University

Nov. 8, 2010 - PRLog -- The Odisha (Orissa) Government through its Gazette notification No:9798/1-11/09/Legis- under, The Institute of Chartered Financial Analysts of India University, Act, 2009, announced the to decision to establish and incorporate a self-financed private University in the state of Odisha for providing high quality education has been accorded assent by His Excellency Governor of Odisha.

ICFAI University Group Sri Koshy Verghese, Secretary General, Federation of Universities said, "With the establishment of University in Odisha, the Icfai Universities Group has gone up to nine across the country.

The group has already established Universities in Dehradun, Tripura, Sikkim, Meghalaya, Mizoram, Nagaland, Jharkhand and IFHE, a deemed University at Hyderabad, Andhra Pradesh. Also there are Letters of Intent and MoUs from 7 more states for establishment of universities."

Dr TRK Rao, Director, Corporate Communications Department, Icfaian Foundation said, " the objectives for which the University is established in Odisha are to provide instruction, teaching, training and research in specialized fields of Financial Planning, Public Accounting, Auditing, Management Accounting, Banking Treasury Management, Insurance, Financial Services, Financial Management, Project Management, Law, Education, Medical Sciences, various branches of Science and Technology."

He further added, "the Act entitles the ICFAI Group to procure 25 acres of land to establish the campus with a minimum built up area of 10,000 square meters for conducting the academic programs."

The Act enables the university to purchase of books and journals at least worth rupees ten Lakhs in the first year and to invest Rupees 50 Lakhs on books, journals, computer networking and other facilities to make the library facilities adequate for contemporary teaching and research within first three years. Purchase of equipment, computers, furniture, other movable and immovable assets and infrastructure facilities other than buildings worth rupees twenty Lakhs in the first year and not less than rupees one crore within the first five years."

In his message to Students of Odisha In his message to the Students of Odisha, Dr Rao reiterated the commitment of the The Icfai University Group to offer high quality education programs to students in the Odisha State.