New Delhi: Students who have enrolled for its two-year postgraduate diploma in management (PGDM) at the Indian Institute of Management (IIM), Bangalore have to shell out Rs 2.5 lakh per annum. At present the fee is Rs 1.75 lakh.
On Monday, IIM’s governing body met and discussed the issue of fee hike. Mukesh Ambani, the Chairman of Reliance Industries, headed the meeting.
“The approximate cost being incurred by the Institute for each student was about Rs 4 lakh. We have no other go, but to increase the fee to Rs 2.5 lakh. The students can certainly afford it in view of the salary being offered to them in the range of Rs ten to 12 lakh,'' UNI quoted IIMB Director Prakash G Apte as saying.
However, he said that no poor student would return without a degree for want of funds as the Institute offered ample freeships and scholarships.
IIM business schools have already established their reputation among the best employers in the world.
To accommodate the OBC quota, IIM-B will increase the number of seats in the coming academic year to 270 from 240.
The intake for the public policy programme is likely to be increased to 40 from 30.
“The IIM-B would increase the intake from 240 to 270 in the coming academic year to accommodate OBC candidates in a phased manner as per the Veerappa Moily-headed Oversight Committee's recommendation that 27 per cent of the seats in higher educational institutions should be reserved for OBCs,” Apte added.
''The infrastructure we have today is enough to accommodate the present increase in intake. However, any further increase would need new infrastructure. Likewise, we can manage with the present faculty now. But, if the student strength went beyond 270, then we need extra faculty,'' he said.
There are six IIMs in the country, and they are located at Calcutta, Indore, Bangalore, Kozhikode, Lucknow and Ahmedabad. They are dubbed among the world's best management institutes.
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