Seven new Indian Institutes of Managements proposed by Union HRD Minister Kapil Sibal have finally been approved by the Cabinet today on August 27, 2009. These new IIMs will come up at Tamil Nadu, Jammu and Kashmir, Jharkhand, Uttarakhand, Haryana, Chhattisgarh and Rajasthan. Locations of four of these IIMs has already been specified in the earlier notifications given by the HRD, these are Raipur in Chhattisgarh, Rohtak in Haryana, Ranchi in Jharkhand and Tiruchirapalli in Tamil Nadu.
The new IIMs are proposed to be mentored by the existing ones after the initial plan of faculties of the present IIMs teaching at the new ones could not be carried out. However, since the HRD ministry is yet to send in any formal communication about the details of the mentoring, the Directors at the various IIMs were unable to provide details of the mentorship program.
In the meanwhile, the HRD ministry is already searching for Directors for the four new IIMs at Raipur, Rohtak, Ranchi and Tiruchirappalli (whose final locations have been decided). The remuneration of the new directors has been fixed up at Rs.80000.