IIM-B hikes fee Rs 13 lakh

Indian Institute of Management Bangalore today hiked fee for its two-year post-graduate programmes to Rs 13 lakh from the present 11.5 lakh, from the next academic year.

The decision was taken at a meeting of the board of directors, chaired by Mukesh D Ambani.

IIMB director Prof Pankaj Chandra told reporters that the students would have to pay fee of Rs 6 lakh in the first year and the remaining Rs 7 lakh in the second. He, however, said IIMB is strongly committed to the philosophy that no student would be denied an opportunity to pursue the PG programme in management for want of financial resources.

"The Institute provided financial assistance amounting to about Rs 4.38 crore to 136 students during the year 2009-10", Chandra pointed out.