The Rajiv Gandhi University (RGU) in Arunachal Pradesh, has signed an agreement with the Higher Education Financing Agency (HEFA) along with Bank of Baroda for the development of the university's campus. It is estimated that the construction may cost Rs 66.59 crore, an official said on Tuesday.
The central university's Vice Chancellor Professor Saket Kushwaha said that the construction of the Rajiv Gandhi University faculty building will be different departments like the Electronics and Communication Department, residential quarters for staffers and hostels for students among others to be included under the programme.
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A total of Rs 66.59 crore has been sanctioned by the agency for the construction projects of the university and this would help students to study under a better environment.
The HEFA, is a joint venture company of Canara Bank and Union Ministry of Education to provide financial aid to educational institutes. The aim is to create modern and sustainable infrastructure for the country's premier educational institutes. "The loan is sanctioned only for projects that involve revenue generation," Mr Kushwaha said.