Your dreams of pursuing MBA from your dream college just took a hit! IIM-Bangalore, one of the top B-schools in the country, has decided to raise the fees of its post graduate program from the existing Rs 17 lakh to Rs 18.7 lakh.
Once the changes in the fee structure come into effect, IIM-Bangalore will become the costliest IIM in the country. This decision was taken at a meeting of the board of Governors of the institute this week. This increase in the fees comes after a gap of two years.
IIM Ahmedabad had also announced a fee hike for three of its programs for the next year. It hiked its fees by 11% which would make it Rs 18.5 lakh from the existing Rs 16.6 lakh. IIM Calcutta, IIM Lucknow and IIM Kozhikode have not announced any fees hike for the next year. Their fee is Rs 16.2 lakh, Rs 10.8 lakh and Rs 13 lakh respectively.
There will not be any increase in the intake capacity of IIM Bangalore. The institute is trying to open a second campus. The Karnataka Government is still to pass over the possession of land to the institute. According to a source, "An increase in intake would mean more infrastructure and faculty. It would not be feasible now."