Question: Recently Union Cabinet has approved the Indian Institute of Management (IIM) Bill, 2017, which of the following statement is incorrect in accordance with the bill?
(a) IIMs would be declared as Institutions of National Importance.
(b) These institutions will able to grant degrees to their students.
(c) Management of these Institutions would be Board driven
(d) The Chairperson and Director of an Institution will be selected by Ministry of Human Resource Development
Ans:(d)
Related facts:
- On 24 January 2017; the Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Indian Institute of Management (IIM) Bill, 2017.
- Under this the IIMs would be declared as Institutions of National Importance.
- The Bill provides for complete autonomy to the Institutions, combined with adequate accountability.
- IIMs will be able to grant degrees to their students
- Management of these Institutions would be Board driven.
- The Chairperson and Director of an Institution which will be selected by the Board.
- Provision has also been made for inclusion of women and members from Scheduled Castes/Tribes in the Board.
- The Annual Report of the Institutions will be placed in the Parliament and CAG will be auditing their accounts.
- There is also a provision of Coordination Forum of IIMs as an advisory body.
- Background:
- Indian Institutes of Management are the country’s premier institutions imparting best quality education in management on globally benchmarked processes of education and training in management.
- IIMs are recognized as world-class management Institutions and Centers of Excellence and have brought laurels to the country.
- All IIMs are separate autonomous bodies registered under the Societies Act.
- Being societies, IIMs are not authorized to award degrees and, hence, they have been awarding Post Graduate Diploma and Fellow Programme in Management.
- While these awards are treated as equivalent to MBAs and Ph.D, respectively, the equivalence is not universally acceptable, especially for the Fellow Programme.