IIM-B hikes annual fee to Rs 4 lakh

IIM-B hikes annual fee to Rs 4 lakh

BS Reporter / Bangalore March 25, 2008

The Indian Institute of Management-Bangalore (IIM-B) has hiked the fee for post graduate programme (PGP) from the existing Rs 2.5 lakh per annum to Rs 4 lakh per annum.

The decision to hike the fee, to be effective from the next academic year, was approved by the IIM-B Board of Governors meeting chaired by Chairman Mukesh Ambani on Tuesday here.

The decision to hike the fee was long pending as the premier academic institution was subsidising the education of the students.

According to IIM-B, the institute incurred an expenditure of Rs 5 lakh per student per year whereas the fee charged was just 50% of it. The balance 50% of the fee was being subsidised.

All incoming PGP students will pay Rs 4 lakh for the first year and another Rs 5 lakh in the second year.