Older IIMs like Ahmedabad, Bangalore and Calcutta, which do not take non plan grants would have powers to create posts within approved norms, to open centres in India and abroad said the Ministry of HRD .
In addition these older IIMs can amend rules within the overall frame work of Memorandum of Association and Rules, to approve their own Budget, to manage the own funds generated by Institute in the course of time from fees/donations/grants by individuals, institutions and organizations in India and abroad.
For example funds received from:
(i) Industry, Association, Foundations and Trusts;
(ii) Alumni, faculty, staff, students and well-wishers of the Institute;
(iii) Govt. of India and State Govt. as outright, or matching grants;
(iv) Savings from the annual grants and receipts of the Institute;
(v) Unclaimed securities, royalties, gifts etc; and
(vi) any other kind of donation, contribution etc.
Source: Press Information Bureau
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