New Delhi, July 24 : The Union Cabinet today gave its approval for the establishment of an "Institute for Stem Cell Science and Regenerative Medicine" (SCSRM) in Bangalore.
The SCSRM institute would be an autonomous institution of the Department of Biotechnology and would be set up at a total cost of Rs. 203.10 crores.
Flexibility in management function like hiring qualified manpower based on selection by a selection committee, offering one scale higher than a level of an available post to a candidate of exceptional merit by the Governing Board and appointing overseas Indian scientists as an adjunct faculty, would be extended to the institute.
The institute will help in developing policies relating to stem cell technologies, identify needs, facilitate conceptualisation and design of new technologies.