The Indian Institute of Management (IIM) Indore has made a provision of Rs 4 crore in the coming academic session to provide assistance to poor students joining its flagship Post-Graduate Programme (PGP).
The Institute will waive-off the entire fee of those students whose parents have an annual income less than Rs 1.5 lakh, the Institute sources said.
If the annual income is between Rs 1.5 and Rs 3 lakh, cent per cent tuition fee will be waived off. If it is in the category of Rs 3-4.5 lakh, they will get a relaxation of 50 per cent in tuition fee.
The relaxations are given under the Institute's Need-Based Financial Assistance Scheme (NBFAS) and in the financial year 2009-10, IIM-I has spent Rs one-crore under the scheme, the sources said.
For the year 2010-12, the Institute has fixed Rs 5 lakh as annual fee, which includes tuition and hostel fee, for PGP.
