As Bill gets passed in Rajya Sabha, IIMs prepare to offer degrees

Bill, which awaits President's nod, declares IIMs as institutes of national importance, vests degree granting powers

Now that the Rajya Sabha has passed the Indian Institute of Management (IIM) Bill, the premier B-schools are readying themselves to grant degrees. The Bill, which will be promulgated into an Act under the Parliament once the President of India signs it, declares the 20 IIMs as institutes of national importance, thereby vesting upon them degree-granting powers.

Unlike currently when IIMs offer post graduate diplomas in management and research fellowships, under the IIM Bill they will be able to offer masters degrees such as MBA as well as PhDs.

According to directors of some of the top IIMs, while there is some