The Graduate Management Admission Council, owner of the GMAT exam and the leading membership organisation of graduate business and management schools worldwide, awarded a fund of $ 1.63 million (Rs 8.4 crore) to S P Jain Institute of Management & Research (SPJIMR). The grant is to fund the implementation of Abhyudaya a programme through which the first year MBA students mentor underprivileged children in the BMC schools of Mumbai’s K-West Ward.