This has been approved under the IIM Act, 2017. According to MHRD, the entire process needs to be closed down by December 15, 2018.
The Ministry of Human Resource and Development (MHRD) has recently announced that all the 20 Indian Institute of Management (IIM)
of the country will soon get a new set of Board of Governors (BoG) under the IIM Act, 2017.
The approval has been announced in yesterday’s meeting after consulting with the Ministry of Law and Justice. The government has set a deadline, for the IIMs to constitute new boards
, which is December 15, 2018.
Members in Board of Governors
The new Board of Governors will have three ex-officio members which are as follows:
- Institute’s current director
- Existing representatives of the state government
- Existing representatives of the union government
These members will then select a chairperson, following which, the BoG will co-opt five alumni members.
What after constituting boards?
On the completion of the constitution of the boards, the rules will be issued under the IIM Act
, which would bring out the operational details more clearly.
Responsibility for the board
The newly constituted board will decide the fees for the courses and will also be in charge of creating the academic and administrative posts in the departments.
What is Indian Institutes of Management Act, 2017?
- Indian Institutes of Management Act, 2017 was passed last year
- According to the act, the Indian Institutes of Management are the institutes of national importance and can offer degrees and can further make substantial changes in their administration
- The IIM Act is a historical step of the government which for the first time, provided comprehensive autonomy to higher educational institutions