IIM-Ahmedabad faces financial crisis

Ahmedabad,Jun 24: The Indian Institute of Management, Ahmedabad, (IIM-A) is facing serious financial crisis, claimed the Director of the institute, professor Samir Barua.

Addressing media on Wednesday, Jun 23,Professor Barua attributed the fund crisis to the Sixth Pay Commission recommendations, which the institute has implemented.

"The Sixth Pay Commission made a huge impact, it brought about an increase of 60 percent in the salaries and we had assessed only 30 to 35 percent increase in the recommendations. This brought a severe strain on our resources," he said.

He mentioned that the number of pensioners was about 300 and it was high as such the institute was burdened in disbursing their enhanced monthly pension amount.

He also added that IIM-A would continue its tie-up with Prometric, the US-based firm for conducting online examinations.

ANI