Degree or diploma? IIMs free to choose, says HRD
Earlier, all IIMs were separate bodies registered under the Societies Act. Since societies are not authorised to award degrees, students admitted to their Master's programme were given a PGDM. Similarly, those pursuing doctoral studies are awarded the title of a "Fellow" at the end of their research.
Parliament had on December 20 passed the IIM Act, empowering the premier management institutes to grant degrees to students. Image source: Zeenews.com