More IIMs to open in India, abroad soon

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New Delhi, Oct 14: More autonomy and flexibility has been provided to the Indian Institute of Management (IIM) and with that power, the institute now can open more branches in India and in abroad.

Human Resources Development (HRD) Minister, Kapil Sibal on Oct 13 announced the decision of the central government and demanded extra accountability from the institution.

Besides acquiring the autonomy to open more IIMs, the B-school would have powers to create posts in keeping with approved norms, the right to amend rules of IIM within the framework of memorandum of association and rules.

The B-school of India also got the power to acquire and dispose property, which has not been fully or partially funded by the ministry, powers to approve their own budget, and the freedom to manage the funds generated by IIMs.

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