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IIMs allowed to open campuses abroad
Wednesday, October 13, 2010 09:16:27 PM,
IANS
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New Delhi:
The prestigious Indian Institutes of Management (IIMs) have been
allowed to open campuses abroad, a human resource development (HRD)
ministry official said Wednesday.
In a decision taken at a meeting between HRD Minister Kapil Sibal
and the directors and chairpersons of the IIMs, full powers have
been given to the boards of the institutions to open new centres
in India and abroad.
"The other powers given to the boards include freedom to create
posts within the approved norms, freedom to amend rules of the
IIMs within the framework of memorandum of association and rules,
power to acquire and dispose property not fully or partially
funded by the ministry, powers to approve their own budget and
also to manage the funds generated by the IIMs on their own," the
official said.
However, the number of members on IIMs' boards has been reduced to
14.
The official hinted that an overhaul may be on the cards as the
issue of representing the IIM society, the government, the faculty
and the alumni on the boards was also discussed.
"It was also decided, in principle, that directors of IIMs will
now be appointed through a process wherein the board of governors
of the IIMs would suggest three names to the government from which
it will choose one," the official said.
It was also decided that the IIMs will be free to raise the
salaries of their directors and faculty from the funds generated
in-house.
"The minister has also directed that old and new IIMs sit together
to streamline the use of technology for class scheduling,
attendance and marks compilation," the official said.
The minister pointed out the board should take steps to prepare
annual action plans and key performance indicators at each level
and be fully accountable and transparent.
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