Principal secretary to cabinet secretariat department, Brijesh Mehrotra said the cabinet gave its nod to the education department's proposal for setting up Amity University in the state capital.
The university has taken 6000 sqmt space on lease at Rupaspur area of the state capital and will complete the construction of its own building in the two years' time.
The two other private universities are at Madhubani and Biharsharif.
The Bill, which later became Act, allowed private universities to function from rented premises with built up area of 10,000 sqm up to two years till construction of permanent infrastructure.
The cabinet also approved Rs 44.80 crore as its share for setting up of an Indian Institute of Information Technology (IIIT) at Bhagalpur, Mehrotra said adding the IIIT has started its academic activities from the current session and 83 students have registered for it.
It also gave its nod for constitution of IIIT Society which will keep a tab on the construction of the institute's building and its affairs, he said.
The cabinet also decided to upgrade 80 residential schools being run by the SC and ST welfare department upto 10+2 level, Mehrotra said adding that it also approved the creation of 1542 teaching and non teaching posts.
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