South Asian countries has made an united effort to bring unity among South Asian Countries. The effort got fruit in the form of South Asian Universities. The concept of Universities got final approval at 14th SAARC Summit in New Delhi on 4th April, 2010.
The university will be based on global standard. The funding will be based on Public - Private partnership. So, that autonomy of the university will not be comprised. This will help in bureaucracy. The resources will be measured globally. Students will have quota from South Asian countries. So, it is not that Indian students will fill every seat as the university is in India. The university is currently running on temporary campus on JNU campus.
The first academic session has commenced in Aug, 2010 with two courses:
Few students and faculties will be taken from non-SAARC countries as well. Few global faculties from non-SAARC countries will help filling best faculties in the university. non-SAARC student need to pay full course fee and they cannot access the subsidies fee available to non-SAARC students.
For more on the university, read here: http://www.southasianuniversity.org/SAU/about_us.html