Original sentence: It was endowed with the status of university on July 10, 1964 by the government under the then  State of Mysore to consolidate institutions of higher education in the city of Bangalore.The university is a part of  The Association of Indian Universities (AIU) and nears the status of "Potential for Excellence" which is reserved for the top 10 universities in India under the Guidelines of the University Grants Commission(UGC)
Edited sentence: It was endowed with the status of university on July 10, 1964 by the government under the then State of Mysore to consolidate institutions of higher education in the city of Bangalore.The university is a part of The Association of Indian Universities (AIU) and nears the status of "Potential for Excellence" which is reserved for the top 10 universities in India under the Guidelines of the University Grants Commission(UGC)