The IIM Bill, passed by Rajya Sabha, gives b-schools autonomy and power to award full-fledged degrees.
The IIMs will have more authority on courses, appointment of faculty and expansion plans.
Photograph: Kind courtesy IIM Ahmedabad
The new IIM Bill will change the way the Indian Institutes of Management function.
It promises more power to the board of directors, involves alumni and encourages women leadership in decision making.
The following snapshot will help you understand how the new bill will benefit future students and faculty.
Design: Ashish Narsale/Rediff.com
This is what IIM directors have to say about the bill
Ajit Prasad, IIM Lucknow
This is a step closer to granting the degree to the students.
Expansion of board to include eminent persons and alumni is much appreciated.
Kulbhushan Balooni, IIM Kozhikode
This is great news and the Bill moves us to achieve global levels of excellence.
The functional autonomy empowers us to expedite and compete with the international institutes.
Saibal Chattopadhyay, IIM Calcutta
There is not much that we will have to change in academic activity.
What is registered under the IIM Society will now be under an act of the Parliament. And we will be offering MBA and PhDs instead of PGDMs and fellow programmes.
G Raghuram, director, IIM Bangalore
Not just the full autonomy of appointing the chairperson as well as the director but now also the power to review the performance of the institutes vests with the Board.
This will help the IIMs to shape better long-term goals.
Janat Shah, IIM Udaipur
The Bill grants greater autonomy in governance.
There is a lot of dependence that IIMs, especially newer ones, had on the government which has been removed.