The Indian Institute of Management-Bangalore and Graduate School of Business, Stanford University will sign a memorandum of understanding to facilitate exchange of business and management strategies.

The MoU will be signed in Bangalore on January 5, an IIM-B statement said.

"This will help nurture close relationship between students of Stanford and IIM-B," it said.

The broad goals of the programme are to create a cross-cultural opportunity for students to learn about business practices in the US and India and foster bonds between students of both institutes through an exchange programme, it said.