Indian Government have pass a law for IIMs (Indian Institute of Management) Can Now Award Degrees. Previously IIM could only offer Diplomas. President Ram Nath Kovind has given assent to the Indian Institutes of Management Bill, 2017 and now this bill is a law.
As part of Indian Parliament process; the new law which was passed in the Lok Sabha in July, 2017 and by Rajya Sabha on December 19 needed President’s assent.
This law is know as The Indian Institute of Management Act, 2017.
The law offers autonomy to these institutes. Through this bill we will remove all interference of the government, bureaucracy in the functioning of the IIMs. They will themselves decide how to manage and run these premier institutes.