IIM Bangalore Increases Seats – Hikes Fees
Students need to pay more to get a PG program from IIM-B
IIMs seem to be on a spree of hiking their fee, lately. The Indian Institute of Management, Bangalore is the one that has recently hiked fees for the two-year PG programs from. The increase is 25,000 rupees from 5 lakhs to 5.25 lakhs. For the academic year 2010-11, the fee will be Rs 5.75 lakhs. IIM Bangalore Director Prof Pankaj Chandra told the same to reporters.
The increase comes in the wake of IIM Kolkata (IIM-C) doubling its fee to 9 lakhs for the 400 enrolled students for academic years 2009-2011.
It had been unanimous decision at the recent Board of Governors meeting. The meeting presided by Chairman Mukesh Ambani took the decision. IIMB Director Prof Pankaj Chandra told reporters.
Wage increase, additional miscellaneous costs, increased pension due ti sixth pay commission all prompted to increase the fee told the Professor. Additionally, IIM-B is not an institution that is supported by government funding too, he remarked. He further said that the hike was coming close to 2.5 lakhs and that they had limited it with the hope of checking on costs.
The limit was laid because of increase in number of seats by an additional 80 to 350 from 270 and the institute also is contemplating on a new PG executive program and about 75 number of students already enrolled for the program.
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