CRISIL today announced the launch of its pioneering service, grading of educational institutions, beginning with the business school segment. CRISIL will provide an independent, robust and allround assessment of the ability of an institute to impart quality education and achieve desired student outcomes through the graded programmes.
At the launch event, CRISIL released grades for 24 management programmes, covering 20 institutes from Bhubaneshwar(1), Chennai(1), Coimbatore(1), Delhi(3), Gurgaon(1), Guwahati(1), Hyderabad(1), Mumbai and Navi Mumbai(5), Noida(1) and Pune(5).
Starting with the grading of programmes offered by business schools, CRISIL will, over time, cover other categories of educational institutions. The grading is not a ranking exercise for management education programmes. It is an in-depth and interactive evaluation exercise which will classify management education programmes on an eight-point scale: from ‘AËËË’ to ‘B’.
A comprehensive report on each graded programme with insights into student profile, faculty profile, curriculum, and best practices adopted by the institute, will be available free of charge on CRISIL’s website, www.crisil.com. This sharing of best practices and the benchmarking on a relative scale, will contribute, over time, to an improvement of overall quality standards in the sector.
The gradings will benefit several stakeholders.
Students and parents can make better informed choices about business schools. Recruiters will be able to obtain a wealth of information on business school programmes which will enable their recruitment efforts to be more focussed and better aligned with corporate objectives. The evaluation process will provide the institutes themselves with valuable feedback from an independent agency; they can use this feedback to set for themselves a quality improvement agenda.
India has a large number of business schools (almost 2500).CRISIL has, therefore, incorporated a unique feature – each programme is graded on a national scale (relative to other such programmes across India) and a state scale (relative to other such programmes in the same state). This is designed to provide practical decision making inputs to both students and recruiters, who may wish to study in or recruit from specific geographic areas respectively.