New Delhi: The Indian Institutes of Management (IIM) in Bangalore, Indore and Kohzikode on Tuesday hiked their fees for the postgraduate programme with effect from the new academic year.
IIM-Ahmedabad is likely to follow suit after its board meeting on March 31.
On Monday, IIM’s governing body met and discussed the issue of fee hike. Mukesh Ambani, the Chairman of Reliance Industries, headed the meeting.
Students who have enrolled for its two-year postgraduate diploma in management (PGDM) IIM-B have to shell out Rs 2.5 lakh per annum as opposed to the present fee of Rs 1.75 lakh, while in Indore, the fee has been hiked from Rs 1.50 lakh to Rs 1.90 lakh.
The IIM-B board approved the hike and its Director Prakash G Apte justified the move, saying students earned between Rs 8-10 lakh a year after the programme and could easily afford the increase.
To accommodate the OBC quota, IIM-B will increase the number of seats in the coming academic year to 270 from 240.
PTI quoted IIM-Indore Director S P Parashar as saying, “Our board meeting decided on March 24 to hike the fee of the flagship PGP course to Rs 1.90 lakh and to raise the total intake to 195.”
According to the official announcement, IIM-Kozhikode is going to charge its students Rs 1.9 lakh for the first year and Rs 1.95 lakh for the second year of its post-graduate programmes.
At present, the fee at these two levels stand at Rs 1.5 lakh and Rs 1.65 lakh respectively.
Meanwhile, Bakul Dholakia, Director of IIM-Ahmedabad, told PTI, “Any decision regarding fee hike will be taken up in our board meeting which is going to be held on March 31.
IIM-A had increased its fees from Rs 1.58 lakh to Rs 1.77 lakh last year, marking a hike of about 12 per cent, sources 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.
(With Agency inputs)
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