India's top B-School hikes fee structure

India's top B-school said it would hike its annual fee structure almost by 40 percent for its two-year postgraduate programme (PGP) from the next session. The Indian Institute of Management, Bangalore (IIM-B) hiked the fee from rupees 1,75,000 to rupees 2,50,000. The decision was taken at a meeting of the governing body of the IIM which was chaired by Mukesh Ambani, Reliance Industries Chairman. Prakash G. Apte, IIM-B director, said that the hike in the fee structure was necessitated due to the escalation of costs but would not hit poor students. There are six IIMs located at Calcutta, Indore, Bangalore, Jaipur, Lucknow and Ahmedabad, dubbed as among the world's best management institutes in India.