Union Cabinet Approves The IIM Bill, Here Are Five Things You Need To Know

The bill grants powers to the IIM Board of Governors to order an inquiry by a High Court judge against a Director if an institute underperforms

Outlook Web Bureau

Updated on: 24 January 2017 2:59 pm

The Union Cabinet has approved the Indian Institues of Management Bill(IIM) Bill, 2017 that provides statutory grants to all the IIMs and it enables them to provide degrees instead of diplomas to its students.

Frank Noronha, chief spokesperson of the government, tweeted after the cabinet meeting.

#Cabinet approves Indian Institute of Management Bill, 2017, under which IIMs would be declared as Institutions of National Importance
— Frank Noronha (@DG_PIB) January 24, 2017

Here are five things you need to know:

1)The 20 Indian Institute of Managements will now be able to award degrees instead of post-graduate diplomas.

2)The bill grants powers to the IIM Board of Governors to order an inquiry by a High Court judge against a Director if an institute underperforms.

3)The Bill will ensure IIMs are board-driven, with the chairperson and director selected by the board.

4)The Board of Governors of IIMs will be able to evaluate the performance of the institutes within the first three years of establishment.

5)The President of India will not be the Visitor of the IIMs. All major state-funded institutes, including IITs and central universities, have the President of India as their visitor.