Indian Institute of Management, Bangalore, increased fees for its two-year post-graduate programmes on Thursday.
For 2009-10, the fee has been hiked from Rs five lakh to Rs 5.25 lakh, and for 2010-11, to Rs 5.75 lakh.
This was unanimously decided at the Board of Governors meeting presided by IIM-B Chairman Mukesh Ambani, IIMB Director Prof Pankaj Chandra told reporters.
“We looked at the additional cost, wages increase, the increase in pension because of the sixth pay commission which we had to bear”, he said, also noting that IIMB does not get any government funding. “In fact, the hike was coming to Rs 2.5 lakh but we limited it out and hopefully we will control our cost”.
He said IIMB has also increased the number of seats in its post-graduate programmes from 270 to 350. IIMB is starting a new post-graduate executive programme from tomorrow, and 75 students have already enrolled for it.
Asked if IIMB has plans to make changes in the curriculum, Chandra said the Institute is going to review the entire programme sometime later but added that core subjects would remain the same.
On compliance with OBC quota requirements, he said, “We will be exceeding OBC requirements by 15-20 per cent this year”.