The ICFAI University, Meghalaya has been established under Section 4 (2) of the Institute of Chartered Financial Analysts of India University, Meghalaya Act 2005 (Act No.12 of 2005) passed by Legislative Assembly of Meghalaya. The University has been notified under Notification No.EDN.261/2004/124 Dated, 22-02-2006. The University is empowered by UGC to award degrees under Section 22 of UGC Act 1956. The University is a member of the Federation of Universities, India. The University believes in creating and disseminating knowledge and skills in core and frontier areas through innovative educational programs, research, consulting and publishing, and developing a new cadre of citizens with a high level of competence and deep sense of ethics and commitment to the code of professional conduct.
The Visitor of the University is H.E. the Governor of Meghalaya.
The University is administered as per the Act, Statutes and Rules. The Board of Governors is headed by the Chancellor and has the Vice-Chancellor, Government nominees and others as members. The Board of Management is headed by the Vice-Chancellor. The Academic Council is responsible for decision making on all academic matters. The University offers Bachelor's Degree in Business Administration, Computer Applications and Hospitality & Tourism Management. It also offers Master's Degree in Business Administration.
Scholarships are grant-in-aid to a student who wants to pursue education at ICFAI University, Tura