With all IIMs planning to join hands in the wake of Government rejecting IIM-Bangalore's proposal to set up a campus in Singapore, HRD Minister Arjun Singh says that these prestigious B-schools cannot establish campuses abroad "as of now".
"There is no provision in their Memorandum of Understanding (MoU) to establish brick and mortar campuses abroad as of now. If this is amended they can do so," Singh told a news channel.
Reacting for the first time after his ministry turned down the proposal, he said these institutions were run on MoU and they were entitled only to tie-ups on research activities.
"Under no circumstances not even in the least have I ever interfered in their autonomy," he said adding he had only said these institutions must also enable poor students to get in.
Referring to the charges that his ministry was trying to kill the IIMs from going global, Singh said these institutions were not "companies floated by anyone and these are set up by the state".
Observing that lot of money has gone into investment, both capital and recurring, he said in the last two to three years the institutions were making some money through various projects and therefore they have corpus. "So they are not independent floating companies who are free to do whatever they like", he added.
{{/usCountry}}Observing that lot of money has gone into investment, both capital and recurring, he said in the last two to three years the institutions were making some money through various projects and therefore they have corpus. "So they are not independent floating companies who are free to do whatever they like", he added.
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