By: R Chandrakala on January 03, 2018
On December 31, 2017, the Honorable President of India had given assent to the Indian Institutes of Management Bill, 2017 and now has become a law. The Indian Institutes of Management in the country have now got a lot of autonomy in their way of operation with a restricted role played by the Government. They have been assigned the power to award degrees in place of diploma to the candidates according to a new law passed.
The new law that was passed in Lok Sabha in the month of July 2017 and by Rajya Sabha on December 19, would grant statutory powers to the IIMs in the way of their operation inclusive of appointment of directors and faculty members. The Indian Institute of Management Act, 2017 gives the IIM power to award degrees instead of Postgraduate Diplomas.
By means of this bill, Government interference is sought to be removed. The IIMs themselves shall decide on how to manage and run premier institutes. As per the provisions of the Act introduced, the Board of Governors of each institute shall be the principal executive body comprising of 19 members.
It would consist of a chairperson among the eminent persons distinguished in the field of industry be it Education, Science, Technology, Management or Public Administration, to be appointed by the Board. There shall be one nominee of the Central Government being in charge of the field of education / his respective field/ or representing the nominees whose territorial jurisdiction the limits within institute is located.
The Board of Governors would be appointing the Director of every IIM, who will be fulfilling the role of the Chief Executive Officer of the institute.
CAT result is slated to be declared in the second week of January for which the candidates are waiting amidst great anticipation. CAT result would be available on the official website.
On 26 November 2017, about 2.3 Lakh candidates had taken the exam conducted by IIM Lucknow. The CAT Exam Slot 1 was held until 12 pm while Slot 2 examination was held until 5. 30 pm. CAT is a computer-based examination which is held for admission to various master programmes in Business Schools all over India inclusive of IIMs.
Data Interpretation and Logical Reasoning had been the toughest section that was followed by Verbal Ability and Reading Comprehension. Quantitative Ability was said to be the easiest of all the sections a lot of MBA aspirants who had appeared for the examination. The candidates shall be informed individually via SMS on the morning of which the CAT result shall be declared.
CAT is a pre-requisite for getting admitted to Fellow Programmes in Management or FPM (equivalent to Ph.D.). Candidates interested in FPM should also note that separate advertisement shall be released by the concerned institutes.
All the Best!
