Perhaps the Bank statement is compulsory for showing the sponsorship. They need balance of your savings account or in the form of Fixed deposits.
Even I had a similar condition because my father had all his money in the form of assets and a liquid statement of around just $20,000. So what I did was that I asked two of my relatives to sponsor me i.e. they need to give their bank statement and financial affidavits declaring that they are willing to support me for my first year of study. It is just on the papers and needed till VISA process, they don't really need to pay you. When you have got admit and everything is completed, just ask your Dad to convert PF or GPF and transfer it to your personal account, hence showing the total amount that you'll be needing to pay for your tuition fees and living expenditures for the two years.
Therefore I would suggest you to do the same and ask your relatives to sponsor you. Do explain them that they need not to pay the actual amount (haha :P), it is just needed till VISA process and afterwords you can show whatever assets or FDs or any similar funds to show your competence to the university.
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