IIM-Bangalore increases fee by Rs 1.5 lakh

Bangalore, Mar 30: Indian Institute of Management Bangalore (IIM-B) has decided to increase fees from Rs 11.5 lakh to Rs 13 lakh, from the academic year 2010.

The decision was taken at a meeting of Board of Directors, chaired by Mukesh D Ambani.

Speaking to reporters, IIM-B Director Prof Pankaj Chandra said that the students would have to pay fee of Rs 6 lakh in the first year and the remaining Rs 7 lakh in the second.

However, Chandra said, "IIM-B is strongly committed to the philosophy that no student would be denied an opportunity to pursue the post-graduate programme in management for want of financial resources."

"The Institute provided financial assistance amounting to about Rs 4.38 crore to 136 students during the year 2009-10," Chandra added.

He further added that the intake for 2010 batch has been increased from the existing 350 to 375.

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