1) There shall be a Finance Committee constituted by the Board of Management consisting of the following, namely:-

• The Vice-Chancellor .
• The Secretary to Government or his representative.
• The Secretary(Finance) to Government or his representative.
• Two other members nominated by the Board of Management from amongst its members of whom one shall be a Professor.

2) The members of the Finance Committee, other than the Vice-Chancellor and Professor, shall hold office so long as they continue as members of the Executive Council.

3) The functions and duties of the Finance Committee shall be as follows:-

• To examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Board of Management.
• To consider all proposals for new expenditure and to make recommendations to the Board of Management.
• To consider the periodical statements of accounts and to review the finances of the University from time to time and to consider re-appropriation statements and audit reports and to make recommendations to the Board of Management.
• To give its views and to make recommendations to the Executive Council on any financial question affecting the University either on its own initiative or on reference from the Board of Management or the Vice-Chancellor.

4) The Finance Committee shall meet at least, thrice in every year. Three members of the Finance Committee shall form the quorum.

5) The Vice- Chancellor shall preside over the meetings of the Finance Committee, and in his absence, a member elected at the meeting shall preside. In case of deference of opinion among the members, the opinion of the majority of the members present shall prevail.

6) The constitution, powers and functions of the other authorities which may be declared by the Statutes to be the authorities of the University, shall be such as may be prescribed.