Ten thousand IIM Students to benefit from IIM Bill 2017; New IIMs to get boost

IIM students of 2016-18 and 2017-19 batches have all the reasons to rejoice as the winter session of Parliament has seen award of full autonomy to IIMs to make their presence felt globally by opening campuses abroad and has brought about a major change in the award of MBA degree instead of diploma by the IIMs to the students of their flagship courses.

The long awaited and much debated IIM Bill 2017 which was passed by Rajya Sabha on December 19, 2017 is now to get Indias President nod to make it IIM Act 2017. IIM Bill 2017 was already passed by Lok Sabha on February 9, 2017 unanimously after being tabled by the Union HRD Minister Mr Prakash Javadekar.

Ten thousand Students of 2016-18 and 2017-19 batch of all the 20 IIMs would now be awarded MBA degree instead of Post Graduate Diploma in Management (PGDM) or PGPM. The next batches taking admission from 2018 onwards in IIMs will also be conferred MBA degree instead of diploma after completion of the post graduate programme.
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For the last few years, IIM Bill was under consideration and lot of debate & discussion on it in the IIM circles and at the MHRD level had been going on over the various provisions of the bill. With the approval by Rajya Sabha, now IIM Bill 2017 has paved the way to fulfil the long cherished dream of IIM passing out students to get MBA from their IIM in 2018 as all the IIMs would be vested with the statutory powers to award MBA degrees.

Implementation after getting status of IIM Act 2017
IIM Bill 2017 will now be sent to the President of India for his approval to make it IIM ACT 2017. It is expected that in 15 days, Honble President of India will award his approval to IIM Bill. Once the bill gets the Presidents nod, it will become IIM Act 2017 and will be ready for implementation.

IIMs flagship diploma programmes: Now to be conferred with MBA
IIMs will now award MBA degree instead of diploma to their various management programmes which are:

IIMs
Existing diploma Programmes
MBA degree wef 2018
IIM Ahmedabad
PGP, PGP-FABM
MBA, MBA-FABM
IIM Bangalore
PGP
MBA

IIM Calcutta
PGDM
MBA

IIM Lucknow
PGP, PGP-ABM, PGP-SM
MBA, MBA-ABM, MBA-SM

IIM Kozhikode
PGP
MBA

IIM Indore
PGP (Indore, Mumbai), PGP-HRM
MBA, MBA-HRM

IIM Amritsar
PGP
MBA

IIM Bodh Gaya
PGP
MBA

IIM Jammu
PGP
MBA

IIM Kashipur
PGP
MBA

IIM Nagpur
PGP
MBA

IIM Raipur
PGP
MBA

IIM Ranchi
PGDM, PGDHRM
MBA, MBA-HRM

IIM Rohtak
PGP
MBA

IIM Sambalpur
PGP
MBA

RGIIM Shillong
PGP
MBA

IIM Sirmaur
PGP
MBA

IIM Tiruchirappalli
PGP, PGPBM
MBA, MBABM

IIM Udaipur
PGP
MBA

IIM Visakhapatnam
PGP
MBA

Students and IIMs both to benefit
Following are the key benefits of IIM Bill 2017 for the students of IIMs:

Students of IIM Ahmedabad, Calcutta, Bangalore, Lucknow and all other IIMs are given diploma instead of MBA degree. An additional certificate is to be attached by IIM students when they go for higher studies abroad that the diploma awarded by IIMs is equivalent to MBA degree. IIM Bill 2017 has removed this anomaly. Now the IIM students will be awarded MBA degree which is accepted globally by all the top universities across the world.

Paves way for placement in Global companies
Getting international recruitment with diploma awarded by IIMs needed certain additional formalities. With the MBA degree from IIMs, students will get the opportunity to get placement with top Global recruiters who prefer MBAs to PGDMs.

Benefits for IIMs
Full Autonomy awarded to IIMs
IIM Bill grants complete autonomy to the IIMs making it possible for them to award MBA degrees instead of PG diplomas as they are doing now. The MBA degree from IIMs will be globally acceptable without any need of getting supported with a parallel certificate.
The bill provides andgrants powers to the IIM Board of Governors. The Boards of Governors of IIMs would be empowered to evaluate the performance of the IIMs periodically, after every few years.

The bill provides that IIMs are board-driven, and the chairperson and director are selected by the board.
Opens way for IIMs to make Global Foot-Print
IIMs have been declared the Institutes of National Importance. The passing of IIM Bill 2017 empowers the IIMs to establish their campuses abroad and make their presence felt globally.

New IIMs get boost with IIM Bill 2017
he top and older IIMs like IIM Ahmedabad, Banagalore, Calcutta, Lucknow among others are already well known world-wide. However, the new IIMs especially the 7 baby IIMs who started operation in 2015-16, are lesser known and sometimes are not able to get admission as per their full intake and also lag behind in placements despite carrying the IIM brand.
The passing of IIM Bill 2017 will not only enable them to award MBA degree but will also enable them to operate with higher autonomy, seeking international alliances and expanding their role further in global industry connect for their existing and future batches.

With the full autonomy given to IIMs in regard to their administration, recruitment and daily functioning, the IIM Bill 2017 has gone through many rounds of meetings, debates and discussions between IIMs and MHRD, Government of India. Later the draft of the IIM Bill was approved on January 24, 2017 by Union Cabinet after the intervention of Prime Minister to award full autonomy to IIMs.
It is expected that IIM Bill after getting converted to IIM Act 2017 will be implemented in a few days time, with an award of MBA degree to existing and prospective IIM students.

Stay tuned to MBAUniverse.com for more updates on IIM Bill 2017