IIMs Current Affairs

Union Cabinet approves Indian Institute of Management Bill, 2017

The Union Cabinet has approved the Indian Institute of Management (IIM) Bill, 2017, under which the IIMs will be declared as Institutions of National Importance.

It will also enable IIMs to grant degrees rather than diplomas to their students. At present IIMs are not authorised to award degrees as they registered as societies. Hence, they are awarding Post Graduate Diploma and Fellow Programme in Management.

Salient features of the Bill
  • Allow IIMs to grant degrees to their students.
  • Grant complete autonomy to IIMs, combined with adequate accountability. Coordination Forum of IIMs as an advisory body will be established.
  • Board of an IIM will drive the management of the institution. It will select Chairperson and Director of IIM.
  • Board will have greater participation of experts and alumni. It will also include women and members from Scheduled Castes/Tribes.
  • Periodic review of the performance of IIM will be conducted by independent agencies and their results will be placed in public domain.
  • The Annual Report of the IIMs will be placed in the Parliament and CAG (Comptroller and auditor general of India) will audit their accounts. 
Background

Indian Institutes of Managements (IIMs) are the country’s premier institutions imparting best quality education in management and are recognized as world-class management Institutions and Centres of Excellence. All IIMs are separate autonomous bodies registered under the Societies Act and are not authorized to award degrees. These awards are treated as equivalent to MBAs and Ph.D, respectively, but their equivalence is not universally acceptable, especially for the Fellow Programme.

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Union Cabinet approves establishment of IIM in Jammu

The Union Cabinet has approved the establishment and operationalisation of Indian Institute of Management (IIM) at Jammu.

It will become operational from the Academic Year 2016-17 at the transit or temporary campus at Old Government College of Engineering & Technology.

Key Facts

  • For the initial four years from 2016 to 2020, the IIM will function in the temporary campus.
  • The student strength intake in Post Graduate Diploma Programme (PGDP) in Management for year 2016-17 will be 54. It will be progressively increased to 120 in 4th year.
  • Meanwhile, steps will also be taken up for setting up campus at Jammu and an out-campus in Kashmir region.
  • The Detailed Project Report under preparation for the permanent campuses and the process for setting up of the campuses would start after it.

The Union Cabinet also approved formation of an IIM Jammu Society under the Societies Registration Act, 1860. IIM Jammu will be run and managed by the Society with a Board of Governors (BOGs) to be constituted by the Central Government.  BOGs will administer the Institute and would be responsible for establishment and operationalisation of the Institute.

Comment

It was announced as part of Prime Minister’s development package for Jammu & Kashmir. The IMM coupled with opening of IIT at Jammu, NIT Srinagar and two new AIIMS institutions, one each in Jammu region and Kashmir region will help in meeting the requirement of high quality living and education in Jammu & Kashmir.

Background

  • IIM are the country’s premier institutions imparting best quality education in management. At present, there are total nineteen IIMs.
  • Out of these, thirteen IIMs are located at Ahmedabad, Kolkata, Bengaluru, Indore, Lucknow, Raipur, Kozhikode, Rohtak, Ranchi, Shillong, Kashipur, Trichy, Udaipur.
  • New six IIMs were started in 2015 and they are located at Amritsar, Nagpur, Sirmaur, Sambalpur, Bodhgaya and Vishakhapatnam.

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