In a latest development from the newly formed Indian Institute of Management (IIM)- Mumbai, the institute unveiled its fee-structure. The fee at IIM Mumbai is set at Rs 21 lakh for two-year courses commencing from the academic year 2024-25. The institute formerly known as the National Institute of Industrial Engineering (NITIE) was given the status of IIM, following approval to the Indian Institutes of Management (Amendment) Bill 2023.
The institute held its first board meeting on Monday which included fixing of the fee-structure among other details, as the institute plans to admit students for the new MBA courses from the upcoming academic year.
The fee-structure is less than IIM Ahmedabad which is set at Rs. 31.5 lakh, IIM Calcutta's at 31 lakh and Bangalore's at 24.5 lakh then comes IIM Mumbai in the list.
Here is the list of Other IIMs
IIM Kozhikode: Rs 20,50,000
IIM Lucknow: Rs 20,75,000
IIM Udaipur: Rs 20,43,000
IIM Raipur: Rs 15,92,960
Meanwhile the fee of IIM Mumbai is highest amongst the new generation IIMs which include, IIM Shillong, IIM Ranchi, IIM Rohtak, IIM Raipur, IIM Kashipur, IIM Trichy, IIM Udaipur, IIM Sambalpur, IIM Sirmaur, IIM Bodh Gaya, IIM Nagpur, IIM Amritsar, IIM Visakhapatnam and IIM Jammu.
An official from the IIM Mumbai, said, "Apart from fee-structure for the courses the board meeting also finalised on syllabus and curriculum along with infrastructural development plan. The infrastructure augmentation will be a phase-wise project focusing on different areas of the campus and requirements. Apart from setting-up of classrooms, hostels and staff-quarters, it will also include the formation of research centres, fintech study models among all."
In August this year, NITIE was officially named as IIM Mumbai and became the 21st IIM of India.