Ahmedabad: In a noble initiative, all 524 graduating students of the Indian Institute of Management Ahmedabad (IIM-A) have decided to collect a monthly amount of Rs 200 to build a corpus to the tune of Rs 14 lakh and offer scholarship to the next generation of IIMA students.
'The 524 students will collect the monthly amount of Rs 200 and at the end of the year it will be given as the scholarship to the next generation students,' Chairman of the IIM -Ahmedabad's Board of Governors, A M Nayak told reporters after the 49th convocation held here.
'The scholarship amount is likely to reach Rs 14 lakh,' he said.
Responding to a query on any proposal to raise fees in the next academic semester, he said, 'We have not discussed upon the issue of fee hike, but certainly there will be no hike in the fee'.
IIM -A Director Ashish Nanda hailed students for this welfare initiative.
'Even before becoming alumni of this institute, the graduating students have pledged through broad participation to contribute to a fund that supports students in future batches with scholarships,' Nanda said.
'As you soar on and make a difference in this world, remember to thank those who supported you and return that gift by supporting others to achieve their best,' he said.
'I am confident that the spirit of giving back pervades this batch,' Nanda added.