Absolutely not. You will not face any problem. In many Universities, the certificates of Graduation and Post-Graduation are issued much later, because the Convocation ceremonies are delayed because of various reasons. So, the candidates apply for various jobs on the basis of provisional degree certificate.
I applied for and was selected for five Government jobs-all on the basis of provisional certificate(s) issued by University of Calcutta. I didn't have any problem anywhere.
The recruiting agencies know the ground realities very well, So, they don't have any problem in accepting provisional certificates from UGC-approved universities.
Beware! I question everything and everybody.