Seven new IIMs in India by 2011

B K Upmanyu

Fri, Aug 28, 2009 17:21:14 IST

THE COUNTRY’S three youngest states - Jharkhand, Chhattisgarh and Uttarakhand, along with four others, Tamil Nadu, Haryana, Jammu & Kashmir and Rajasthan, will get their branches of the prestigious Indian Institutes of Management (IIM) during the period 2009-2011.

The Cabinet has approved a proposal for setting up 7 new IIMs, taking the total number of the premier management school to 14. India already has seven functional IIMs in Ahmedabad, Bangalore, Kolkata, Lucknow, Indore, Kozhikode and Shillong.

In yet another development that would benefit five lakh students belonging to economically weaker sections with an annual income limit of Rs 4.5 lakh, the Cabinet on Economic Affairs (CCEA) approved a scheme to provide full interest subsidy during the period of moratorium on loans taken by them for pursuing approved technical and professional courses.

While the scheme will be applicable from the current academic year 2009-2010 itself, the Government will bear the interest payable by the student during his/her entire course period, plus one year or six months after he/she gets a job (moratorium period), whichever is earlier. Once the moratorium period is over, the student will have to pay the interest on the outstanding loan amount. The number of loans, as on March 31, 2009, was 16 lakhs and the total outstanding amount Rs 24,000 crore.

HRD Minister Kapil Sibal said both the establishment of seven IIMs and the interest subsidy scheme were part of his 100-day agenda and that he kept the promises he made.

In the first phase, four IIMs at Tiruchirappalli, Ranchi, Raipur and Rohtak will be set up in 2009-10, to become functional from the 2010-11 academic session. The remaining three in J&K, Uttarakhand and Rajasthan, where the locations are yet to be decided, will be set up in the second phase in 2010-11. Though postgraduate programme in management will be the flagship programme, several executive programmes focusing on civic and municipal services will be started in the first year.

In all, an amount of Rs 1,057 crore would be required for the establishment of the seven new IIMs during the XI Plan and wherein admissions will be through the Common Admission Test (CAT). Phase-I will have an intake of 140 students in the PGP course and which will reach 560 students by the end of phase-II.

Return of good times? Top business schools start receiving PPOs

Major companies like Hindustan Unilever, Aditya Birla Group, L&T, Godrej & Boyce, Deloitte Touche Tohmatsu extend pre-placement offers
The last MBA placement season at business schools in India was eclipsed by the global downturn, but the sun is smiling bright now with PPOs pouring in at top business schools! After IIMs, XLRI, and We School reported excellent PPOs (pre-placement offers) from major corporate houses, students have heaved a sigh of relief.
“Until now, majority of the PPOs have come from the consulting sector along with a few from Banking and FMCG sectors,” Professor Jose, Chairperson- Placement at IIM Bangalore said, while talking to MBAUniverse.com. Other than IIM Bangalore, IIM Indore and IIM Calcutta students also received good PPO offers. Speaking to MBAUniverse.com, IIM Calcutta said, “Although the exact number of PPOs is not available, we can confirm that until now we have got PPOs from most sectors like Investment Banking, Marketing and Consulting. IIM Calcutta had the best summer placements across all IIMs and is hoping to maintain the same.”
XLRI School of Business and Human Resources, too, reported excellent PPOs and pre-placement interviews this year. Almost 10% of the batch of 2008-10 has already been placed. The prominent organizations offering PPOs to XLRI students include FMCG major Hindustan Unilever and General Management companies like TAS and Aditya Birla Group, L&T, Times Group and WNS among others. Fr. E Abraham, S.J., XLRI Director said, “We are expecting more offers from Financial and Consulting sectors in addition to the ones offered during the months of August and September ’09 as most hiring decisions are finalized during the second quarter.”
Mumbai-based We School has received a number of PPOs too. We School said, “This year seven We School students have received PPO offers until now and more offers are expected.” According to We School, their students have received PPOs from companies like Networth Stock Broking Ltd., Godrej & Boyce and Deloitte Touche Tohmatsu.
And, this is just the beginning! PPOs generally start pouring in at top business schools from September, which is usually two-three months after the completion of summer project. PPOs keep coming in until the beginning of the final placement season. At IIMs, however, there is no fixed time frame. IIM Bangalore said, “The declaration of the PPO results can happen anytime from the end of the Summer Internship (June) till the starting of the Final Placements (March of following year). Different companies have different work calendars. From our past experience we have seen that most companies come out with their results in September-October.”
Directors at top business schools in India feel PPOs are a sign of the good times ahead. XLRI Director said, “With improved signs of recovery in the economy, students are hopeful of better placements and internships.” On the prospective of final placements, Prof. Jose said, “While we would not like to speculate about anything at this moment in time we continue to be optimistic in our outlook given the positive trends being observed in the economy of late.”
We School said, “The economic scenario has not changed drastically, although we can see the markets recovering gradually. Hence we believe companies will continue being selective about campuses and students and look for that extra bit the student can bring into the organization.” While packages may still not go back to what they were a year ago, 2010 will definitely see a better placement season.
MBAUniverse.com News Bureau Aug 18, 2009.

Good times are back: Job offers flood IIMs

Good times are back: Job offers flood IIMs
BANGALORE: The green shoots are springing up and they're becoming visible at the Indian Institutes of Management, bringing some hope that the economy is looking up.

Pre-placement offers (job offers which come to students before the final placements) have begun to pour in for the graduating class of 2010. The IIMs are seeing a positive response from all sectors.

At IIM-Bangalore, consulting firms, which participated in the summer placement last year have announced their PPO results and all students received PPOs. "IIM-Bangalore is the only IIM with a 100% success rate till now. While this speak highly about the institution as a brand, credit must be given to students and their calibre too. The success rate is actually better than last year's," Vineet Sharma, placement representative, IIM-B, told TOI.

Last year, 12 consulting firms participated in these process. Some of the firms were McKinsey & Co, Boston Consulting Group, Bain & Co. Also, consulting majors Alvarez & Marsal and Result recruited students for the first time.

This year, the positions offered vary a fair bit. "But, it's on a par with an entry-level MBA position across the world," Sharma said. Last year, 120 companies confirmed their participation for the 270 students.

During last year's summer placements at IIMB, overall 24% of the batch accepted a position in a consulting career, known for its demand for multi-functional skills and cutting across finance, strategy and marketing. Other sectors which saw a significant number of offers included finance (21%), investment banking (20%), marketing (13%) and general management (13%). Consulting firms like McKinsey & Co., Boston Consulting Group and Bain & Co. recruited the highest number of interns from IIM-B. Interestingly, students have also bagged 2-3 international offers.
IIM-Calcutta students too are happy as they've got offers from across sectors, including FMCGs. Though IIM-C refused to give the number of offers made, it said the offers are a positive sign for students, especially during this recession. Students here bagged offers from the finance sectors and international ones.

The IIM-C didn't rule out the possibility of more than 10 overseas offers. Paul Savio, external relations secretary, IIM-C told TOI that some banks have put off the PPOs till September. "Earlier, we'd get the offers during May-June from some firms. One reason could be that banks want to see if the markets are doing better and hire people, if required. However, we're only some of the few lucky IIMs to get offers from the finance sector," he added.

Indian Institute of Management-Indore (IIM-I) started to receive PPOs from mid-June. With 240 students in the 2008-10 class, PPOs are more from for the marketing and finance sectors. "We're constantly in touch with firms and received a positive response," sources at placement committee, IIM-I said. He said PPOs would pick up later this year. "However, it's better compared to last year's," he added.

Shruthi Balakrishna, TNN 17 July 2009, 04:46am IST
Source: The Times Of India.

Some interesting facts from IIMB new batch profile...

I came across this interesting page on the IIMB results site. You can access the full document here.

A few observations about the IIMB batch profile:

1. 67 females made it as compared to 321 males. That's less than 18%. I guess things are a lot better than having 1 girl in my batch of 42 at IIMK in 1997-99!
2. Engineers made a killing at IIMB with 92% seats, up from 89% last year. Out of these Engineers, an astonishing 31% are from IITs, and 22% are from NITs! As I keep saying to any non-Engineer, there are still 30 seats which went to non-Engineers. And you only need one of them!
3. A total of 117 freshers reached the institute this year. This counters one of the most disputed myths about IIMs only taking Work-Ex junta!
4. Another way of putting the above is that fact that there were 328 out of 388 people who are below 25 years of age. The range is 19-35 years! I am sure the 19 year olds will feel a generation difference;)
5. Now, this one is my favourite: The lowest Graduation Percentage in the current batch is 66.20% in the general category, and 54% in the SC category! That does away the myth of only Toppers getting into the IIMs all the time...for the record, I had 52% in my Graduation, and I was not the lowest marks in my IIMK batch :)

Hope this will be taken in the right spirit! I will try to get other IIM data as well, and see what do they throw up.

CAT has finally changed its colours!

Dear Student,

The CAT is out of the bag। The IIMs have finally come public with their decision on conducting the CAT online from 2009. Click here for the formal communication from IIM-Bangalore.

It is now time to act. At the outset, we assure you that there is nothing to “fear” about this online CAT. We, at CL, are well prepared to take it head on and ensure that you have the requisite skills.

We have anticipated this and have been silently working at the backend to create requisite Computer Based Tests to make you comfortable with this format. We have been doing this for a long time now. CL started its first CBTs under the name “Web Sprints” way back in 2000 itself. In 2002, XLRI proposed conducting the test online and as CL we came up with a series of tests which were considered the best in this Industry. Let me try to analyze the impact of this decision on your preparations. I shall address this in a question and answer format.

Q: I am not very comfortable working on the computer? Will this affect my performance in the exam?

A: Absolutely, if you continue to keep yourself off from taking computer based tests. There are two stages of getting used to this. One, getting used to working on the computer. Two, getting used to reading and comprehending from the computers.

The first is still a smaller problem to tackle. I am not aware of any student taking GRE/GMAT who has had a problem getting used to the interface of the test. You just need to know how to click on the correct answer, submit the answer or skip the answer by clicking on the relevant radio buttons on the screen.

The second is a slightly long drawn process. Reading from the computer and comprehending is slightly different from doing the same from a sheet of paper. That is because we have been used to the “paper formats” for such a long time that our eye – mind coordination has got used to it. So you need to practice quite a bit to make yourself as efficient through a computer screen. Practice is the key factor.

Q: Where can I practice tests from ?

A: Are you aware that there are batteries of tests that are being updated every week on your SIS. I am aware of a large number of students who are already taking tests regularly on the SIS. If you have still not done it, you better get cracking fast. Please visit your SIS today. Better late than never.

Q: If CAT is conducted on different dates, would the students get different papers?

A: Absolutely. The plan is to conduct it on 10 different days. You may be asked to book your time slots and take the tests at some designated center which has the “Computer Infrastructure” to conduct the tests. You may be aware that BITSAT is computer-based test conducted for admissions into the Engineering programmes for BITS - Pilani, Goa and Hyderabad campuses. About 1.8 lakh students are taking this test this year.

So each of you, in different time slots, could get a different paper. But care would be taken to ensure that all the papers are of “similar” levels of difficulty. I believe you should not be worried about this aspect much.

Q: Would the paper pattern change?

A: Not much. Do not think that the paper would be a lot easier. It may be marginally. The length of RC passages is likely to reduce, so also would be the amount of data in DI. Prepare the way you are preparing now. We will take care of these in our online tests.

Q: What should we do now?

A: I think there are a few things that you must immediately do:

a) Start taking tests on the SIS immediately. Make sure that you have sufficient practice of taking computer-based tests especially in RC and DI.
b) Read e-newspapers, e-books.
c) Make sure that every test that is made available to you by CL is completed. I can assure you that it would be more than sufficient for you to get cracking in CAT.

Q: What is CL planning for me?

A: We have anticipated this for some time now. We have planned it out completely. The ‘appetisers” have been put on the SIS now. There are broadly 2 things that you would see happening:

a) More tests on the web – Many more sectional tests will be uploaded onto the SIS across sections.
b) Mocks in the CBT formats – We will conduct the mocks both in the CBT formats as well as in the paper based formats. We shall ensure that you get comfortable with all the possible formats that CAT can try out.

Q: What should be my preparation strategy?

A: There are three stages for your preparation:

a) Learn: You learn as you are doing now. Just because CAT has gone online the conceptual learning is not going to change. Just stick to your Fundabooks and move onto the online tests for practice.
b) Practice: Part of this must be offline and part of it online. We would upload many more tests online in the next few weeks to enable you to get as much practice as possible online.Note that practice on SIS is essentially to get you used to taking a test on the computer.
c) Testing: Testing for a significant part must be online. This is because your strategies would significantly change since it is no longer a paper based format. You need to experience enough Full Length Tests on the computer to make yourself aware of what is working for you and what is not.

Q: Anything else I need to know?

A: Normally CBTs are of different formats:

a) A computer based test that lets you scroll all the questions. So you can access any question randomly.
b) A computer based test that throws question one at a time. You can access questions randomly. This is the most likely format for CAT 2009.
c) A computer based test that is adaptive. This means the test adapts to how you are attempting the paper. The questions thrown at you are based on whether you have got the earlier questions right or wrong. We expect this pattern from 2010 or 2011.

If you have any queries please mail us at pune.cl@careerlauncher.com.

All the best!

IIM Bangalore set to increase fees

Indian Institute of Management, Bangalore has decided to increase the fee for its flagship PGP program to Rs. 2.5 lakhs. The change would be effective for all 2007 enrollments.

Explaining the hike from the current Rs. 1.75 lakhs, IIMB director Prakash Apte said the kind of salaries offered to students placed via campus selection justify the increase. He also pointed out that while the cost of the program is Rs. 4 lakhs, students are still charged a subsidized amount.

Along with the fee hike, IIM-B is also increasing the student intake to 270, from the current batch size of 240.

Source: Economic Times

Government wants more control over the IIMs

The HRD Ministry led by Arjun Singh is working on a law to curb the financial independence of the six IIMs. Through the Institutes of Management Act the ministry has proposed to limit the funds received by B-schools to only the annual grants from the government.

If this law is passed, the IIMs will also have to submit their financial records for review to the Parliament, making them answerable to the Government. The IITs have been governed by a similar law, Institutes of Technology Act, since 1961.

Source: Economic Times

IIM-A to revise PGP program

India’s top B-school has announced plan to revise its flagship program for the first time in a decade. A committee of professors has been formed to revise the curriculum and bring it more in line with the changing market scenario.

The course revision will be done keeping in mind the expectations of students and the institutes goals. Other issues such as teaching methodology, program content, exchange programs, faculty exchange and appointment, course curriculum, choosing electives will also be taken into consideration.

Source: The Economic Times

Reliance World, BIMTECH to offer retail management

The Birla Institute of Management Technology, in collaboration with Philadelphia University has launched an 11-month Executive Program for Retailing Management. The course content has been jointly developed by the two institutes, and covers topics such as Retail Store Management, Visual Merchandising, Merchandising Management, Supply Chain Management, Customer Relations Management, and Theft Prevention.

The 300-hour course will be delivered through the Reliance World videoconferencing based virtual class room platform. Faculty from the university will also visit India for contact sessions with the students.

Source: Moneycontrol.com

ISB and Wharton renew association

Indian School of Business (ISB), Hyderabad and the Wharton School of the University of Pennsylvania have extended their association for another 5 years. Faculty from Wharton will continue to teach and contribute to the curriculum at ISB. Wharton faculty will also assist ISB in the development of course reading and case materials to be used in the post graduate curriculum; and help initiate a faculty development program for ISB faculty.Similarly, ISB will support Wharton on Asian business issues, as well as help with the development of course material relevant to the region. The two institutes will also collaborate on research.

Along with renewing the existing association, ISB has also joined Wharton as one of the founding sponsors and an academic sponsor of Wharton’s India Knowledge@Wharton.

Source: Wharton School, University of Pennsylvania

IIM-L launches IPMX program at Noida

Indian Institute of Management, Lucknow has announced plans to offer a full-time, one-year, residential executive MBA program at its upcoming Noida campus. The focus of this program will be to train aspirants with prior work experience for leadership roles.

The International Program in Management for Executives program will focus on developing the students’ understanding of the Indian and international business environment. IPMX will facilitate their understanding of business, at both functional and strategic levels.

Admission to the program will be through GMAT scores. IIM-L will consider scores obtained from 1st January 2004 to 20th November 2007.

Application dates

Source: MBAUniverse.com

IIM Shillong to begin operations in 2008

The 7th Indian Institute of Management, IIM Shillong will begin operations from academic year 2008 – 2009. The institute will be called the Rajiv Gandhi Indian Institute of Management (RGIIM), and will be situated on a 120 acre campus. In its first year, the institute will admit 60 students. This will be increased to 120 students in its third year and 180 students in the sixth year.

Initially the institute will offer a two-year full-time program in management (PGPM). In future the institute also plans to offer short-term programs of local relevance on subjects such as tourism, horticulture and hydel power.

However, the institutes name was missing from the CAT Bulletin issued by the IIMs on July 21. The CAT Group will issue a notification about the Shillong institute shortly.

Source: Business Standard