MADURAI: The financial position of prestigious Madurai Kamaraj University (MKU) in Madurai is becoming worse day by day- falling to a very precarious situation. Reliable sources told ‘Lotus Times’ news website today- on 26th July 2020- that the university’s corpus fund in bank deposit has now come down to just Rs.40 crores from a whopping Rs.300 crores which it used to be a few years ago.
“The MKU Vice-Chancellor Dr.M.Krishnan must put focus on improving the university’s earning sources. But his flawed policies with regard to distance education wing DDE of the university had made things terrible for our university.
A few of our earlier VCs created buffer for us in the banks and there was a huge bank deposit that gave monthly interest income to pay salaries and give retirement benefits to MKU staff retiring from their service…..What happened to that huge Fixed Deposit? Where is the fault? Why was the money withdrawn from bank FD? A white paper should be released by our present VC and the finance section of our university. There has to be State Government intervention,” a senior official of MKU has said today- on 26th July 2020.
