iim B fee hike

Bangalore -- The Indian Institute of Management Bangalore (IIMB) decides to hike the fees for its two-year post-graduate management programme from Rs. 1.75 lakh per annum to Rs. 2 lakh from the coming academic year. The proposal was approved in a meeting of the Board of Governors chaired by Reliance Industries chairman and managing director Mukesh Ambani.The Board also gave its nod to a 7% increase in the intake of students so as to provide 27% reservation for Other Backward Classes (OBCs). The student intake was being increased by 30 this year. Later, IIMB Director Prakash G. Apte told media persons that all IIMs would have an identical fee structure. The Director justified the fees hike stating that the annual cost per student was Rs. 4 lakh. He also ruled out any physical infrastructure in Singapore .