The Indian Institutes of Management that have finally been allowed to throw off their shackles and go global by opening new centres in and outside the country.
The much-awaited decision was taken at a meeting of IIM directors chaired by the union human resources development minister, Mr Kapil Sibal, on Wednesday.
To give the IIMs more elbow room to operate and innovate in the global scenario, the meeting also ratified several steps to increase their autonomy.
IIM boards will now get the power to create posts, amend rules within the framework of memoranda of association, approve their own budget and dispose of property not funded by the HRD ministry. Oct. 13: A crucial meeting was in the offing to empower the IIMs by allowing them to open international campuses and enjoy more autonomy.
The Union human resources development minister, Mr Kapil Sibal, said in a statement later that autonomy should go hand in hand with accountability.
