Bangalore: The Indian Institute of Management - Bangalore (IIM-B) today (June 21, 2004) said it would retain the old fee structure of Rs 1.58 lakh per annum for the management programme for the current academic year.

After a meeting of the IIM-B society here, its chairman S M Dutta told reporters that the fee structure of Rs 1.58 lakh would be retained and the society had decided to increase the allocation of need-based scholarships to students from Rs 25 lakh to Rs 75 lakh.

IIM-B's "Vision Document" for the next five years was also adopted at the meeting.

It may be recalled that the apex institute, the Indian Institute of Management - Ahmedabad had also recently retained the old fee structure while increasing the allocation of scholarships from Rs 25 lakh to Rs 1 crore.