Older IIM's to get Greater Autonomy

Older IIM's like Ahmedabad, Bangalore and Calcutta which do not take non plan grants will now have powers to create posts within approved norms to open centres in India and abroad, to amend rules within the overall frame workof Memorandum of Association and Rules,to approve their own budget, to manage funds generated by Institute in the course time from fees/donations/grants by individuals, institutions and organizations in India and abroad, such as

• Industry, Association, Foundations and Trusts
• Alumni, faculty, staff, students and well-wishers of the Institute
• Govt. of India and State Govt. as outright, or matching grants
• Savings from the annual grants and receipts of the Institute
• Unclaimed securities, royalties, gifts etc; and 
• Any other kind of donation, contribution etc.