BU to sign infra development pact with Jindal Foundation

Organisation to invest Rs 50 cr to Rs 100 cr for developing Dept of Economics

Bangalore University (BU) is set to sign a memorandum of understanding with Sitaram Jindal Foundation, which will invest around Rs 50 crore to Rs 100 crore in the infrastructural development of the varsity’s Department of Economics.

The matter was discussed at the BU Syndicate meeting convened on Thursday.
Speaking with Deccan Herald after a press briefing here on Friday, Dr K N Ningegowda, Registrar (Evaluation), BU, said: “Once the MoU is signed, the department (economics) will be named Sitaram Jindal School of Economics after the foundation’s founder.”

Besides renaming the department, the university will have to reserve five seats for the foundation and provide for one nominee of the foundation to be in the governing council of the department, he said.

The foundation will also provide financial assistance for the development of the ladies hostel and scholarship to students of the university.

“We want to attract more students from rural areas as well as creamy-layer students from all over India. At a time of increasing industry-academia interaction and relationship, I think this will be a good move. Many other individuals should come forward with similar investments,” Ningegowda said.

Sitaram Jindal Foundation comes under Jindal Aluminium Limited. It had planned to sign the MoU with the university earlier, but pulled out when the move got embroiled in a controversy.

The university also plans to sign another agreement with BTL Foundation to develop an auditorium for the civil engineering department under the university at an estimated Rs one crore.

Recently, a controversy over the affiliation of distance education courses under Bangalore University by the UGC had been reported. BU had halted admissions under these courses.

The matter came up for discussion in the Syndicate meeting. Ningegowda said: “We have not received any communication with regards to disaffiliation from the UGC. We have already briefed the UGC on the issue. For the time being, we are not taking admissions for such courses.”