Beginning with management institutes, the Credit Rating and Information Services of India Ltd (CRISIL) launched its education grading initiative on Monday.
CRISIL will be providing an independent and all-round assessment of the various programmes offered by B-schools.
At the launch event, CRISIL released grades of 24 institutes in the country.
Of these five — SP Jain Institute of Management, Narsee Monjee Institute of Management Studies, Sydenham Institute of Management Studies, Institute of Business Studies and Research and ITM Institute of Financial Markets — are from Mumbai.
While the highest grade is A***, the lowest is B.
“We are not grading institutes sequentially because it is not about rankings but about the quality of courses. We include parameters such as placements, curriculum, faculty and fees,” said Mitu Samar, marketing and communications head, CRISIL.
“These ratings are valid for a year and the institutes are under constant surveillance. So any changes will reflect in the ratings,” Samar said.
B-schools will have to apply for these ratings. They will be graded both on a national and state level.
For instance while Sydenham Institute of Management Studies has an A*** rating in the state, nationally its programmes are graded as A**.
A comprehensive report on graded institutes including their faculty and student profile and best practices adopted by the institute will be available on the CRISIL website for free.