MSU may need bank over draft facilities

VADODARA, March 29: Following a revision of the pay scales of the professors, lecturers and the rise in expenses, the M S University might have to take an overdraft beginning this financial year.

This proposal might be passed by the senate members scheduled to meet at the university on Tuesday. With the new grant-in-aid policy which enables the university to keep the surplus amount for its own use, the university is expected to earn Rs 35 lakh. But still the overdraft will be needed, according to a university source.

Meanwhile university administrative officials said, 8220;Of the Rs 35 lakh, Rs 26 lakh is expected to be used for building repair and cater to the other infrastructure problems of the various faculties.8221;

He added that the amount and the priority would depend on a meeting with the deans of the various faculties. The rest of the amount would also be used for other developmental projects of the university, he added.