IIM-B PG programme worth 2.5 lakhs now!

Bangalore, Mar 26: The Board of Directors of the prestigious Indian Institute of Management, Bangalore, today decided to steeply hike the annual fee for the post graduate programme in management from Rs 1.75 lakh to Rs 2.5 lakh.

Talking to newspersons after the Board meeting here, IIMB Director Prakash G Apte said the approximate cost being incurred by the Institute for each student was about Rs four lakh. ''We have no other go, but to increase the fee to Rs 2.5 lakh. The students can certainly afford it in view of the salary being offered to them in the range of Rs ten to 12 lakh,'' he felt.

However, he said no poor student would return without a degree for want of funds as the Institute offered ample freeships and scholarships.

Mr Apte said the IIMB would increase the intake from 240 to 270 in the coming academic year to accommodate OBC candidates in a phased manner as per the Mr Veerappa Moily-headed Oversight Committee's recommendation that 27 per cent of the seats in higher educational institutions should be reserved for OBCs.

''The infrastructure we have today is enough to accommodate the present increase in intake. However, any further increase would need new infrastructure. Likewise, we can manage with the present faculty now. But, if the student strength went beyond 270, then we need extra faculty,'' he said.

Mr Apte was speaking prior to the 32nd annual convocation of IIMB, in which 379 people graduated after successfully completing their respective programmes.

UNI