IIM-K hikes fee by Rs 40K per annum

New Delhi: It's fee hike time at the Indian Institutes of Management.

Following the footsteps of IIM-Bangalore, which on Monday hiked the annual fee from Rs 1.75 lakh to Rs 2.5 lakh, IIM-Kozhikode too has decided to hike the fees for the first and second year of the post-graduate programme with effect from the new academic year.

The new academic year begins in June 2007. The Board of Governors of IIM-Kozhikode took the decision to hike the annual fee on March 17, but a formal announcement in this regard was made only after IIM-B took the first step towards fee hike on Monday.

According to the official announcement, IIM-K is going to charge its students Rs 190,000 for the first year and Rs 195,000 for the second year of its post-graduate programmes. At present, the fee at these two levels stand at Rs 150,000 and Rs 165,000 respectively.

Meanwhile, IIM-Kozhikode has also announced its decision to accommodate 15 per cent students from Other Backward Classes from the new academic year.

However, the rest of the 27 per cent quota as specified by the HRD Ministry would be implemented only in a phased manner.

The IIM-K Board of Governors has also decided to increase the intake of students to 190 from the present 180, he added.