IIMs to now grant degrees instead of diplomas - Union Cabinet approves IIM Bill 2017
New Delhi: The Indian Institute of Management (IIM) Bill 2017 declares the IIMs as Institutions of National Importance and grants them an autonomous status. The Union Cabinet, today, approved the IIM Bill 2017 which now enables them to grant degrees to students.
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IIM Bill 2017
- The Bill states that IIMs can now hand in degrees to their students instead of the diplomas.
- It also grants IIM the privilege of being an autonomous institution provided it shows accountability.
- The Director and the Chairperson will be selected by the Board and all the management related decisions will also be taken by the Board.
- An important aspect of the Bill is the inclusion and participation of IIM alumni and experts.
- Another feature of the Bill is the provision made to include women and other members especially from the SC/ST section, within the Board.
- A review of all the IIMs will take place periodically by independent agencies and the results will be displayed publicly.
- The Annual Report of the IIMs will be taken up in the Parliament and the CAG will audit the accounts.
- Another provision of the Bill is the formation of the Coordination Forum which will take up issues common to all the IIMs.
The Indian Institutes of Management (IIMs) are premiere institutes that impart excellent management education and research facilities and are registered separately under the Indian Societies Registration Act.