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| Steep increase in IIMB fee |
| Infosys Managing Director Nandan Nilekani greeting gold medal winners Anushree Kiran Laturkar and Kiran Kumar A.S. at the 32nd Annual Convocation
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| INDIA
, 27-March-2007
4:13:34 AM |
| Just an hour ahead of its 32nd Annual Convocation that conferred management diplomas on 379 students, the Indian Institute of Management Bangalore (IIMB)'s Board of Governors met to increase the fee for its Postgraduate Diploma in Management from Rs. 1.75 lakh to Rs. 2.5 lakh per annum. The board formally increased the programme intake by 30 to 270 students.
IIMB director Prakash G. Apte was quick to justify the fee increase citing the "huge growth" in the starting salaries commanded by outgoing students.
"The cost per student for the programme is Rs. 4 lakh. We can take care of the poor students through various scholarships. We will ensure that nobody goes back from the institute for want of funds," he told presspersons after the board meeting here.
The Centre had promised funds — both under Plan and non-Plan — for the institute. Mr. Apte clarified that IIMB had received nothing in the last three years.
He said there was a proposal to increase the intake for the PG Diploma in Public Policy and Management to 40.
Delivering the convocation address, Infosys Technologies CEO and Managing Director Nandan M. Nilekani focussed on how the forces of globalisation were creating an increasingly "flat" business world. In this new world, successful companies would produce where it was most cost-effective and sell where it was most profitable. The whole world would be treated as a network of resources.
Such a flat world company, according to him, required versatile managers with deep skills and wide experience, who thought "flat" and were master executers of strategy.
Reflecting on India in a globalised world, he explained how remittances from Indians working abroad had touched $ 21 billion. Dollars earned from abroad were paying for India's oil imports. Businesses were becoming much more accountable.
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