Ranchi: Good news for students pursuing management programme at the new Indian Institute of Management (IIM) Ranchi! IIM Ranchi offers its flagship two year post graduate programme at Rs 6 lakhs, which is cheapest of all IIMs across the nation.
IIM Ranchi courses fee is almost half of that charged by the most expensive IIM in India i.e. Ahmedabad, which charges a fee of Rs 13.7 lakhs for their two year post graduate programme. Sources from IIM-C claimed that the initial fee at IIM-R was kept low so that talented students who are incapable to pay high fees of other IIMs could seek admission there. Another reason for this, they added, is that the infrastructure at the IIM is not yet in place and the recruitment of teachers is still under way.
As per sources, IIM-R is being approved funds to help build up its infrastructure by the Ministry of Human Resource Development (MHRD), which is the first for any IIM in the country. Dinesh Verma, Chief Administrative Officer of IIM-Calcutta (IIM-C) has said that they will be mentoring IIM-R. Currently, they are in the process of recruiting faculty members for it. He added that the funds from MHRD would allow the new institution to sustain itself only for the course fee in the initial years.