Cost effective IIM in Ranchi from June

Good news for Management students. Soon, another IIM will add to the list of premier business schools in India. This one will cost must less for the students than the existing IIMs in the country.  As per the plan, the new Indian Institute of Management (IIM) in Jharkhand will commence its academic session from June this year.

To the delight of hundreds of aspiring management students, the new IIM will start functioning with a low fee structure. For a two-year postgraduate programme in management, students will have to pay out Rs 6 lakh. For the new IIM, RC Bhargava, chairman of Maruti Suzuki India Limted and Prof BB Chakrabarti of IIM Calcutta, have been selected as chairman and convener of the board of governors respectively.  
 
The convener has put the number of students to 70 for this year’s programme. He based his assessment on the existing infrastructure of the state-run Suchana Bhavan and Administrative Training Institute in the city.
 
The governing body is working hard to increase the number of students from its next session, informed the convener. The move to augment the number could be fulfilled only after acquisition of more premises in the city, he informed.
 
The process for selection of students would remain the same as other IIMs. Students for the Ranchi IIM would be selected through Common Aptitude Test (CAT). To facilitate students, the institute plans to arrange educational loans through banks, informed R C Bhargava.