IIM-Calcutta to boost research and upgrade lab

The Indian Institute of Management-Calcutta (IIM-C) plans to utilize the Rs.20 crore special budgetary grant to help students do research in global finance markets and to upgrade its financial research and trading lab.

Finance Minister Pranab Mukherjee announced the special grant to the IIM-C in the union budget he presented to the Lok Sabha on Monday.

"The money will help us upgrade our financial research and trading laboratory into a world class facility. The fund will also help students for further research in global finance markets," Ashok Banerjee, professor of finance and head of the lab, said on Monday.

The lab was set up on November 18, 2008, to support advanced applied research in financial markets and equip finance managers with the mathematical and conceptual theories.

"Lot of money is required for further research in the global finance markets. So, this money will help the students to a large extent," Banerjee told the sources.

"The grant will help us obtain important softwares and global market data. Right now this is going on a small scale. The special allocation will give a boost to our upgradation and research projects," he said. IANS

Source:http://indiaedunews.net/IIM/IIM-Calcutta_to_boost_research_and_upgrade_lab_13611/

Petition against IIMs filed by CAT toppers

New Delhi: A writ petition by over 70 Common Admission Test (CAT) toppers was filed in the Delhi High Court on Monday for seeking a stay on the second phase of the admission procedure of theIndian Institutes of Management (IIMs).

Most of the students who have filed the petition are among the 1% top CAT scorers but have not received a call for admission from the IIMs due to pre-test criteria that had been kept hidden by the prestigious b-schools till the result for CAT-2010 was announced on January 12. 

The eligibility criteria for admissions have been changed by three IIMs after CAT-2010. Also, five other IIMs had decided to give weightage to Class X, XII and undergraduate marks. These changes in the admission procedure had been revealed only after the CAT-2010 results were announced.

source:http://indiaedunews.net/IIM/Petition_against_IIMs_filed_by_CAT_toppers_13564/

IIMs trash HRD suggestions on teaching hours, smaller boards

 Faculty bodies at IIM-Calcutta and IIM-Bangalore have passed unanimous resolutions to set aside the reports which suggest reducing the size of IIM boards and societies and asking eachfaculty to teach for 160 hours a year.

Other IIMs are likely to follow suit seeking broader consultation on the proposed reforms.

They have trashed the HRD ministry-appointed committee reports on the new governance structure and teaching load, saying that they are based on incorrect data.

They believe that these recommendations are the outcome of several wrong assumptions andincorrect data and would not allow IIMs to become global leaders. These changes, if implemented, will have a negative impact on the morale of the faculty, IIM-B faculty said in a memorandum submitted to board of governors chairman Mukesh Ambani last week.

They have now called for a fresh panel involvingalumni and eminent academics to create a governance structure for long-term development of IIMs.

A five-member committee headed by IIM-Ranchi chairman R C Bhargava had recommended reducing the size of the IIM boards and societies by almost half, and allowing corporate bodies, individuals and alumni to become members of the IIM society by paying Rs 20 crore, Rs 5 crore and Rs 3 crore respectively.

The IIM-B faculty rejected the idea, saying that it will lead to a major structural change in the ownership of IIMs and would be completely against public interest. They believe that contribution for the society should be more in the nature of developing institutions rather than owning the institutions.

The dons at the elite Bschools have also taken exception to the HRD ministry's decision to fix a minimum teaching load for faculty which will be the same for all IIMs.

source:http://indiaedunews.net/Karnataka/IIMs_trash_HRD_suggestions_on_teaching_hours,_smaller_boards_13536/