Institutes offering a postgraduate diploma in management (PGDM) can deduct Rs1,000 from fees paid by students who decide to withdraw before the last date for admissions.
The rules, in a notification issued on 14 December, take effect immediately and specify that these institutes can admit only those who qualify through one of six all-India tests—CAT, XAT, CMAT, ATMA, MAT, GMAT—or an entrance examination conducted by a state government.
THE NOTIFICATION’S HIGHLIGHTS
1. PGDM institutions shall refund fees collected after deducting an amount of Rs1,000 as processing fee and return the certificates to the students withdrawing from the institutions before the last date of admission for whatever reasons, as per the procedure prescribed by AICTE
2. The last date for withdrawal of admissions for the purpose of refund of fees shall be 30 June every year
3. PGDM institutes must specify fees being charged on their websites and in admission brochures
4. In order to properly regulate and enhance the quality of management education imparted in institutions that are offering PGDM, it has been felt that norms and standards regarding academic calendar, admission, AICTE model curriculum and fee refund be spelt out precisely through the regulation
5. It also specified that the duration of a PGDM programme will be no less than 21 months
6. Academic calendar for admission of students will be followed as prescribed by AICTE.
Admissions will start on 1 March and end by 30 June every year.
WHERE ALL NEW RULE APPLIES
There are over 400 such institutes offering PGDM courses that come under the purview of the All India Council for Technical Education (AICTE), including the likes of XLRI Jamshedpur, SP Jain institute of Management and Research Mumbai and MDI Gurgaon.
