The Bill seeks to establish Nalanda University in Bihar as an international institution. The decision was arrived at the Second East Asia Summit in 2007 in Philippines about strengthening regional educational cooperation and later reiterated at the Fourth Summit in Thailand in 2009.
The Bill declares the Nalanda University as an institution of national importance. It repeals the University of Nalanda Act, 2007. The jurisdiction of the university extends to the whole country.
A governing board shall be constituted with a fixed term of three years for each member. Members include the Chancellor, the Vice Chancellor, five members among member states (member of East Asia Summit) who give maximum financial assistance, the Secretary in the Ministry of External Affairs, and two representatives of the government of Bihar. The process of appointment of the various authorities is specified in the Bill.
The President of India shall be the Visitor of the university. He has the power to cause an inspection of the university.
If the governing board does not take action to the satisfaction of the Visitor, he may issue such directions as he may see fit and the board is bound to comply with such directions. The Visitor also has the power to annul any proceeding of the university if it is not in conformity with the law.
The governing board shall be responsible for managing the affairs of the university. Till the constitution of the board, the Nalanda Mentor Group shall exercise the powers of the board.
The university shall be a non-profit public private partnership which shall be autonomous and accountable to the governing board.
The key objectives of the university include (a) imparting education and enabling research in ancient science, philosophy, language, and history; (b) promoting regional peace by helping East Asian leaders relate to their past history; (c) harmonising academic standards and accreditation norms in teaching and