The forthcoming batch in IIM-B will have to pay Rs. 17 lakh instead of Rs.15 lakh. The remuneration charges will include tuition fees, hostel accommodation, health insurance, course and reading material, including cases and books, computing facilities, library and other academic and co-curricular expenditure.
Apart from IIM-B, IIM-Ahmedabad also increased its fee from Rs. 15.5 lakh to Rs. 16.6 lakh. IIMs are the top business schools in India which offer post-graduation degree in the form if MBA.
The programs include Post Graduate Programme in Management (PGP); the Post Graduate Programme in Software Enterprise Management (PGSEM); the Post Graduate Programme in Public Policy and Management (PGPPM); the one year full-time Executive Post Graduate Programme in Management (EPGP), and the Fellow Programme in Management (FPM), which is a doctoral programme.
In a reprieve for IIM aspirants, the Indian Institute of Management (IIM) Lucknow has slashed the fees for its post-graduate programme in management for the academic term 2013-2015.
According to the IIM's director Devi Singh, the fees were being reduced by 10 percent from the current Rs.12 lakh to Rs.10.80 lakh. It is worth mentioning here that the fee for the same course at IIM Bangalore is Rs.17 lakh and Rs.16.6 lakh at IIM Ahmedabad, officials said.
"IIM Lucknow has not hiked any fee since 2011. In the last nine years, the institute's impetus has been on efficient financial management and broad-basing our revenue sources. We have been successful in achieving this," Singh said.
J.J. Irani, chairman of IIM Lucknow's board of governors, said: "In today's environment, when education is becoming costlier, IIM Lucknow would like to take a lead. This decision will help many needy students to undertake education at institutions like ours."