IIT-Delhi, IIT-Bombay and IISc Bangalore to get more freedom, fund
IIT Delhi, IIT Bombay and IISc Bangalore have been granted the Institution of Eminence (IoE) status by the Union Human Resource Development Ministry.
IIT Delhi, IIT Bombay and IISc Bangalore have been granted the Institution of Eminence (IoE) status by the Union Human Resource Development Ministry. Besides that Manipal Academy of Higher Education, BITS Pilani and Jio Institute have been granted institution of eminence tag. The IIT Bombay and IIT Delhi will receive government funding for being public institutions and the Institutes of Eminence will get grants of Rs 1000 cr in next five years from the government, Union HRD Minister Prakash Javadekar said in a Twitter post.
The IoEs will get freedom to decide their fee for domestic and foreign students. They will also be able to design flexible course duration and structure. These institutions' academic collaborations with foreign institutions will not require approvals from the government or UGC.
"This will help these institutes to grow rapidly to a scale and improve quality and add new courses. Also do whatever is needed to become world-class institutions," the minister said.
Watch this Zee Business video here:
The decision will also ensure that no student be denied opportunity of education with various measures like scholarships, interest waiver, fee waiver and ensure all equity principles, the minister tweeted.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:37 PM IST