Indian Institutes of Management Bill,2017 Declares IIMs as Institutions of National Importance (Download PDF)

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Bill empowers Indian Institutes of Managements to attain global excellence in education, research, and allied areas. It provides administrative, academic, and financial autonomy to them to grant degrees.

Image shows the rank of Top MBA College in India 2016

Image Shows the Rank of Top MBA College in India 2016

Image shows the rank of Top MBA College in India 2016

Key Highlights

  • Declares IIMs as Institute of national importance
  • Allows IIMs to grant degrees to their students
  • Grants them complete autonomy, combined with adequate accountability
  • Establishes coordination of IIMs as an advisory body.
  • Empowers IIM board to drive the institute management and select Chairperson and Director of IIM.

New IIM Board for Decisions

  • Board to have greater participation of experts and alumni.
  • Include women and members from ST/SCs.
  • Power to call periodic review of the performance of IIM by independent agencies with results in public domain.
  • Power to place the Annual Report of the IIMs in the Parliament and CAG (Comptroller and auditor general of India) auditing their accounts

About IIMs

  • Group of 20 public, autonomous institutes of management education and research
  • Offer postgraduate, doctoral, and executive education programmes.
  • Established by Jawaharlal Nehru based on the recommendation of the Planning Commission
  • Registered as societies under the Indian Societies Registration Act
  • Each IIM is autonomous and exercises independent control over its day-to-day operations.
  • Administration across IIMs and overall strategy overseen by the IIM council headed by India’s Minister of Human Resource Development
  • Earlier they were not authorized to award degrees. Awards were however treated as equivalent to MBAs and Ph. D. , respectively, but their equivalence was not universally acceptable, especially for the Fellow Programme.

- Published/Last Modified on: August 21, 2017

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