IIM Mumbai Sets Fees for Two-Year MBA at Rs 21 Lakh – News18

IIM Mumbai has set fees for its 2-year MBA course at Rs 21 lakh, following its classification as a National IIM, in its first board meeting post the upgrade, marking a significant development for management students. Previously, known as the National Institute of Industrial Engineering (NITIE), the institution rolled out three MBA programmes this year. In terms of fees for MBA courses, IIM Mumbai is currently just behind IIM Ahmedabad, IIM Kolkata, and IIM Bangalore.

IIM Ahmedabad charges the highest fees among all IIMs nationwide. The MBA programme here costs Rs 31.5 lakh. IIM Calcutta follows with a fee of Rs 31 lakhs for the MBA course. IIM Bangalore is third in terms of the highest fees, with Rs 24.5 lakh for its post-graduate management course.

The MBA programme at IIM Mumbai with the new fee structure will commence from the 2024-25 academic session.

Apart from the introduction of the MBA programmes, this year also marks the conferring of National IIM status on IIM Mumbai. The educational institution received its management college status via a parliamentary decision in August 2023.

How to get admission in IIM Mumbai’s MBA programme?

Admission to IIM Mumbai’s MBA program will be based on the Common Admission Test (CAT). The CAT exam is scheduled for November 26, 2023, and the results are expected to be released in the second week of January 2024. About 3.3 lakh students have registered for the CAT exam this year.

In addition, the applicant needs to have a Bachelor’s Degree with at least 50 percent marks, or a similar grade point average (GPA). For candidates in the Scheduled Caste (SC), Scheduled Tribe (ST), and Persons with Disability (PWD) categories, the minimum aggregate is 45 percent. The degree should be from a university or educational institution that is recognised by the Indian government or is considered a university under the UGC Act, 1956. Moreover, a qualification acknowledged by the Ministry of Education, Government of India will also be accepted.

What preparations have been made for the MBA programmes?

At the board meeting, the institute also decided on what students will study, how they will study it, and how they can make the campus better. The campus improvements will happen in different steps and cover various areas, including classrooms, dorms, and places for staff. IIM Mumbai is also expected to make research centres and financial tech study setups.