Question

    Which institutions will be exempt from certain

    provisions of the University Grants Commission Act and the All India Council for Technical Education Act, specifically in the context of financial management, fintech, science, technology, engineering, and mathematics?
    A Foreign universities located in International Financial Services Centres (IFSCs) Correct Answer Incorrect Answer
    B Indian universities located in IFSCs Correct Answer Incorrect Answer
    C All foreign universities in India Correct Answer Incorrect Answer
    D All Indian universities in IFSCs Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The finance ministry has notified that in financial management, fintech, science, technology, engineering and mathematics offered by foreign institutions in the International Financial Services Centres (IFSCs) would be outside the ambit of certain provisions of the University Grants Commission Act and the All India Council for Technical Education Act. The regulatory ambit of the IFSC Authority (IFSCA) will be limited to terms and conditions of establishment, including reporting requirements and administrative functioning of such foreign universities or foreign institutions. The regulatory framework of the respective home country shall apply in all academic matters, such as curriculum, faculty, admission criteria or process and academic collaborations, etc.

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