More than 100 business schools offering MBA degrees and other post graduate courses had applied to shut down due to bad business because of low admissions among other factors, according to a report published in the Hindustan Times.
More than 100 business schools offering MBA degrees and other post graduate courses had applied to shut down due to bad business because of low admissions among other factors, according to a report published in the Hindustan Times.
The report cited data with the All India Council for Technical Education (AICTE), the apex body of technical and management institutes, shows that a total of 101 management institutes wrote to it seeking voluntary closure.
The data showed that the largest number of business schools,37, were from Uttar Pradesh, followed by 10 each from Karnataka and Maharashtra. Quoting an offcial, the report said that these requests are likely to be accepted. In 2016-17, 76 management institutes closed down and in 2015-16, 66 did, according data provided by AICTE.
“There is a reduction in demand for some of the specialisations, especially marketing. There is also an increase in number of deemed and state private universities,” said a senior AICTE official.
“At the same time, some institutes are unable to fulfil the norms and standards set by regulators with the revenue generated through fee structures prescribed by state governments,” added the official who asked not to be named.
Experts add that the exorbitant fees charged by private institutions are a major deterrent to taking up MBAs, as there are no immediate returns on this investment after two years.
Earlier this year, the Financial Times released its 20th edition of annual global ranking of business schools. According to the report, premium Indian business schools, IIM Bangalore and IIM Calcutta have improved their global rankings this year.
Surprisingly, the Indian Institute of Management, Ahmedabad (IIM-A) and the Indian School of Business (ISB), Hyderabad have slipped from their previous ranking.
The ISB in a statement notified that its post graduate has been ranked 28th among the top 100 global MBAs and is the top-ranked business school in the country.
"We will continue to focus on providing world-class education while steadfastly investing in our faculty, research centres and institutes. ISB will continue to proactively partner with government and industry to drive performance and to contribute to society at large," said Dean Rajendra Srivastava.
The ISB was ranked 27th in 2017 slipped one notch to 28 in the current year Financial Times rankings while IIM Ahmedabad, which was at 29th position last year, is at 31, the Financial Times London said.
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