Ministry of Education Forms A Committee To Bring NITIE Under IIM Act 2017; What Does This Mean?

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Ministry of Education Forms A Committee To Bring NITIE Under IIM Act 2017; What Does This Mean?

The ongoing debate over 'Will NITIE come under IIM Act 2017?' is spreading like wildfire. To address the issue, the Ministry of Education has formed an expert committee to bring the National Institute of Industrial Engineering (NITIE) Mumbai under the purview of the IIM Act 2017.

Ashishkumar Chauhan, BSE's Chief Executive Officer, and Allahabad University Chancellor will lead the expert committee to consider the feasibility of bringing NITIE Mumbai under the IIM Act.

What is IIM Act 2017?

As per the IIM Act 2017, Indian Institutes of Management were declared institutions of national importance by the Ministry of Human Resource Development (MHRD). The bill gave them the authority to offer degrees and make substantial changes in their administration.

The Act enables the institutes to form a board of governors (principal executive body for each IIM). DO you know the director of the board of each IIM gets pay of INR 2,25,000 in the seventh pay commission and is entitled to variable compensation?

Bill introduced in the Lok Sabha	The Indian Institute of Management Bill, 2017
Published on	February 9, 2017
Came into force from	January 31, 2018

Since the passage of the IIM Act 2017, apart from offering some unique courses, all IIMs have started offering Master of Business Administration (MBA) instead of diplomas.

Will NITIE come under IIM Act 2017?

NITIE, situated near Vihar Lake in Mumbai, is a public institute formed by the Government of India in the year 1963. Registered under the Societies Registration Act, 1860, the institute offers courses in management, engineering, and fellowships at the doctoral level.

The institution was ranked 12th in the Management category of NIRF 2021 Rankings. The institute is looking forward to coming under the purview of the Indian Institutes of Management (IIM) Act.

With the approval of the Hon'ble Education Minister, a committee of experts has been formed to analyze the feasibility of bringing NITIE)Mumbai under IIM Act, 2017. The five-member committee will judge the existing infrastructure/academic and non-academic staff of the institute with the requirements of the Act.

The committee will be chaired by Shri Ashish Kumar Chauhan, MD & CEO, Bombay Stock Exchange & Chancellor, University of Allahabad; and will have Prof. Pawan Kumar Singh, Director, IIM, Tiruchirappalli; Prof. Pramod Kumar Jain, Director, IIT, BHU; Prof. Subhasis Choudhuri, Director, IIT, Bombay; Shri Pradeep Goyal, CMD, M/s Pradeep Metals as the members.

Summing up

After deliberating the terms of reference (TOR), the committee shall submit its report within one month from the date of issue of the communication - January 31, 2022.

Let's wait and watch if Mumbai, the commercial capital, gets a nationally recognized MBA institute of the level of IIMs or not.

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