By IANS
Bhopal : Madhya Pradesh’s first ever private university will soon be established in the state’s Dewas district.
The state government Sunday signed a memorandum of understanding (MoU) with the Hyderabad-based Institute of Chartered Financial Analysts of India (ICFAI) for the setting up of the university.
ICFAI will be investing about Rs.1.5 billion during the next five years for the establishment of the university.
Describing it as a first step towards making Madhya Pradesh an education hub, Minister for Higher Education Tukojirao Puar said the private sector is being encouraged to provide quality higher education to students.
“The university would be of great help in checking migration of students from Madhya Pradesh to other states for higher studies. Deliberations are being made to grant permission to various academic institutions of national repute to run institutions in the state,” Puar said.
Private universities can now be started in the state after the passage of the Madhya Pradesh Private University Act in the last budget session.