Like its famous brethren, the Indian Institute of Management, Bangalore, on Monday said it would retain the old fee structure of Rs 150,000 per annum for the management programme for the current academic year and increase the allocation of the need-based scholarships from Rs 25 lakh (Rs 2.5 million) to Rs 75 lakh (Rs 7.5 million).
After a meeting of the IIM-B society, its Chairman S M Dutta told reporters that the fee structure of Rs 158,000 would be retained. The need-based scholarships for economically weak students will be raised to Rs 75 lakh from Rs 25 lakh.
IIM-B's 'Vision Document' for the next five years was also adopted at the meeting.
The Indian Institute of Management-Ahmedabad had also recently retained the old fee structure, while increasing the allocation of scholarships from Rs 25 lakh to Rs 1 crore (Rs 10 million).