The Indian Institute of Management (IIM) Indore has made a provision of Rs 4 crore (Rs 40 million) in the coming academic session to provide assistance to the needy students in its flagship Post-Graduate Programme (PGP).
The Institute will waive-off total fee of those students whose parents' annual income is less than Rs 1.5- lakh, the Institute sources said. Between 1.5-3-lakh, 100 per cent tuition fee will be waived-off.
Those who fall in the category of Rs 3-4.5-lakh will get a relaxation of 50 per cent in the tuition fee.
These relaxations are given under the Institute's Need-Based Financial Assistance Scheme (NBFAS) and in the financial year 2009-10, IIM-I has spent Rs 1 crore (Rs 10 million) under the scheme, the sources said. For the year 2010-12, for PGP the Institute has fixed Rs 5 lakh annual fee which included tuition and hostel fee.
