Kozhikode: The Board of Indian Institute of Management-Kozhikode (IIM) today (Mar 26, 2004) unanimously decided to implement the Centre's directive to reduce the annual fee to Rs 30,000.

"The Board has unanimously resolved to accept the Government's decision and reduce the annual fee from the present Rs one lakh to Rs 30,000," IIM (K) chairman A C Muthiah said tonight.

The Board, which took up the fee cut issue for discussion during its meet, consented to accept the Centre's proposal to reduce the fee, he said, adding the Institute's autonomy remained "safe" and "protected".