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Taking a cue from its sister concerns, the prestigious Indian Institute of Management-Kozhikode (IIM-K) on Monday announced a steep 20 and 22 per cent hike in the annual fee for the academic year beginning from June 2006.
As per the revised structure, the annual fee for the first academic year has been increased from Rs 1.25 lakh* to Rs 1.50 lakh and from Rs 1.35 lakh to Rs 1.65 lakh for the second year, IIM-K chief executive officer K Kunhikrishnan said.
He said the decision to hike the fee had been taken by a governing body meeting presided over by IIM-K chairman A C Muthiah.
Kunhikrishnan said the governing body had also decided to provide need-based scholarships to deserving students.
The intake of students in this academic year will remain the same at 180, he said.
IIM-A and IIM-I had already announced a 12 and 20 per cent hike respectively for the academic year beginning from June 2006, he added.
* 1 lakh = 100,000
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