Sign In
Learn bits
Polity & Governance
Mahesh

10/08/23 12:44 PM IST

IIM (Amendment) Bill,2023

In News
  • The Rajya Sabha recently passed the Indian Institutes of Management (Amendment) Bill, 2023 to amend the Indian Institutes of Management Act, 2017.
Provisions of the bill
  • The Act declares Indian Institutes of Management (IIMs) as institutes of national importance and regulates their functioning. IIMs provide post-graduate education in the field of management and allied areas.
  • The Bill designates the President of India as Visitor of every Institute covered by the Act.
  • Under the Act, the Director of an IIM is appointed by the Board of Governors, based on the recommendations of a Search-cum-Selection Committee. The Bill mandates the Board to obtain the prior approval of the Visitor before appointing an Institute Director.
  • Under the Act, the Board may remove the Director from office on grounds such as: (i) insolvency, (ii) mental and physical incapacity, (iii) conflict of interest. The Bill adds that the Board will require prior approval of the Visitor before removing a Director.
  • Under the Act, the Chairperson of the Board of Governors of each Institute is appointed by the Board. The Bill amends this to provide that the Chairperson of the Board will be nominated by the Visitor.
  • The Act empowers the Board to initiate an inquiry against an Institute if it has not been functioning in accordance with the Act.
  • A retired High Court judge conducts such inquiries. Based on its findings, the Board may take any action that it deems fit. The Bill removes all these provisions, and proposes a new procedure for inquiries. It confers the power of inquiry upon the Visitor.
  • The Act provides for a Co-ordination Forum for all the Institutes. The Chairperson of the Forum is selected by a Search-cum-Selection Committee, constituted by the Forum. The Bill amends this to provide that the Chairperson will be nominated by the Visitor.
Source- PIB

More Related Current Affairs View All

21 Sep

India Achieves Tier 1 Status in Global Cybersecurity Index 2024

' India has secured Tier 1 status in the Global Cybersecurity Index (GCI) 2024, published by the International Telecommunication Union (ITU).' The GCI is a comprehensive assessm

Read More

21 Sep

A new White Revolution

'Operation Flood, launched in 1970, ushered in the White Revolution and transformed the dairy sector in India.' Dairy cooperatives procured 660 lakh kg of milk per day in 2023-2

Read More

21 Sep

Changes in Canada’s international work permit system

'Canadian Prime Minister Justin Trudeau announced changes to the country’s international work permit system, aiming to reduce the number of immigrant workers in Canada.'

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps