Bangalore: Close on the heels of a fee hike at the Indian Institute of Management (IIM), Ahmedabad, its peer IIM Bangalore, or IIM-B, on Thursday too announced a higher fee structure.
Students joining IIM-B in 2009 will have to pay Rs11 lakh for the two-year flagship postgraduate programme in management.
The business school has raised the fees by at least 15% from the Rs9.5 lakh it charged the previous batch, a faculty spokesman at IIM-B said over telephone.
Costlier: A file photo of the IIM-B campus. The school announced a fee hike after a meeting of the board of governors on Thursday. Hemant Mishra / Mint
The fee hike was announced at a press conference following a meeting of the board of governors held here on Thursday.
The higher fees will reduce the subsidy and cover rising running and salary costs. The school will take in 350 students in 2009, up from 257 taken a year earlier, to conform with the other backward caste quota mandated by the ministry of human resource development, which oversees higher education in the country.
IIM-A had announced a hike in its fees on Sunday. The premier business school will now charge Rs12.5 lakh for its two-year programme. The business school hiked its fees last year as well, spiking it by 150% to Rs11.5 lakh.