Cabinet approves Indian Institute of Management Bill, 2017. IIMs to be declared as Institutions of National Importance
GN Bureau | January 24, 2017
Indian Institutes of Management will now be able to grant degrees to their students.
The union cabinet chaired by prime minister Narendra Modi has approved the Indian Institute of Management (IIM) Bill, 2017, under which the IIMs would be declared as Institutions of National Importance.
Read: “We should be challenging Harvard in 10 to 15 years”
IIMs are the country's premier institutions imparting best quality education in management on globally benchmarked processes of education and training in management. All IIMs are separate autonomous bodies registered under the Societies Act.
Being societies, IIMs are not authorized to award degrees and, hence, they have been awarding Post Graduate Diploma and Fellow Programme in Management. While these awards are treated as equivalent to MBAs and PhD, respectively, the equivalence is not universally acceptable, especially for the Fellow Programme.
Read: Are IIMs world-class?
Salient features of the IIM Bill:
RailTel has achieved highest ever turnover of Rs 903 crore and clocked a profit before tax (PAT) of Rs 194 crore and net profit of Rs 130 crore in financial year 2016-2017. RailTel has said that the past year has been remarkable for it as the railway PSU has proved itself to be a key
From 1969 onwards, following an amendment in the BHU Act, the Banaras Hindu University (BHU)’s executive council is entirely nominated by the president of India on the recommendations of the HRD ministry. None of the executive council members are elected, thus, diluting the democratic structure of th
The highest proportion of policymakers with not much or no knowledge of the Sustainable Development Goals (SDGs) was found in India (38%), said a report by an international advocacy group. Equal Measures 2030, an advocacy group, which spoke to policymakers in India, Colombia, Indonesia, Keny
Prime minister Narendra Modi has launched Pradhan Mantri Sahaj Bijli Har Ghar Yojana –“Saubhagya” – to ensure electrification of all households in the country. Here are five elements of this new programme: The total ou
Companies operating in the financial services domain will have to develop novel preventive control mechanisms and significantly invest in reactive capabilities to keep cyber-attackers at bay, suggested an ASSOCHAM-PwC joint study. “Incorporating a more agile cyber risk management appro
We rarely think of food as a viewpoint. We understand the world of food, but not so much its worldview. Everything that we consider as food has a rich context that’s one part history, one part anthropology, significant bits of science, and a liberal sprinkling of medicine, politics, culture and econo