APJ Abdul Kalam Technological University (KTU) has permitted affiliated private self-financing engineering colleges to submit financial guarantees in the form of fixed deposit receipts in three installments. The decision was made on a recommendation of the Syndicate Standing Committee on Affiliation of the University.
According to an official, the first instalment of ₹10 lakh can be submitted as fixed deposit receipt (FDR) in two payments before March 31, and the second instalment of ₹15 lakh as FDR before December 31.
Vice Chancellor M.S. Rajasree said the decision was taken on the basis of requests made by various self-financing engineering college managements.
