ICFAI Business School (IBS) Student Community

[abhishek1711 (shah)]

There has been lot of talks about IBS not being under AICTE and the degree not being accepted or legal etc. This is to clarify the facts !

IBS is an independant private institute under ICFAI UNIVERSITY which is approved by UGC (ICFAI TRIPURA). Any university doesnt need to be under AICTE , only institutes offering diploma need AICTE tag....universities under UGC offer degrees

So be rest assured that you would be 100% eligible for government jobs/further education as you would get an MBA degree from ICFAI UNIVERSITY as well as PGDBM diploma by IBS.

Anyways IBS has decades of legacy behind it with our alumni working in top positions across corporates, so we feel since we have industry acceptance and good placements, degree or diploma doesnt even matter at the end of the day !

Res assured you would have a bright future , so get your priorities right

[abhishek1711 (shah)]

Surprisingly just hours after my clarification , the issue again crops up thanks to this hastily made claim from AICTE .Read about it here http://www.ibsrocks.com/forum/ibs-g-on-aicte-s-hit-list-t480.html

This article brings to fore the great Indian MBA Dilema once again (notably just at the time students start filling Mba forms.

The Issue - Institutes like ISB,Gr8 Lakes, ICFAI. IIPM , CHRIST , not having AICTE approval to run their MBA courses. AICTE thus is unhappy that they are not getting the due ego boost and respect, so they go ahead to ask state governments to close down such institutes.

Now thats something really uncalled for. Id once again like to clarify few things wrt this issue

1. AICTE approval is voluntary and not mandotory

2. Universities or deemed universities DO NOT require AICTE approval in the first place as they fall under UGC which offers DEGREES. AICTE is meant for approving DIPLOMA's equal to degrees. So while an IIM needs AICTE , a SYMBI or NMIMS or ICFAI for that matter DOES NOT SEEK AICTE approval , as they are under UGC

3. ISB or gr8 lakes offer 1 yr diploma courses , which AICTE cannot approve anyways , as they cover only 2 year course.So its actually doesnt make sense for AICTE to ask them to close down. Do they mean to say 1 year courses are not relevant? thats a separate issue and they better leave it on INDUSTRY forces to decide that !

4. AICTE has 800+ approved institutes under it , most of which are so poor in terms of infrastructure , faculty base or student quality , that AICTE would do much better regulating them rather than creating just baseless outrageous claims !

5. At end of the day MBA is about INDUSTRY....no piece of paper (wether AICTE or UGC for tht matter) can gurantee one a place in the industry. So if the industry accepts an ISB or an IBS as a top notch institute - the students shoudl really not be a worried lot

Hope this helps. Aspirants are advised not to press the panic button, dont loose focuss from preparations....

Regards

Abhishek

[abhishek1711 (shah)]

ICFAI Clarifies that its stand and says will react only on receipt of any formal notice from AICTE....

As per Business Standard article ( http://www.business-standard.com/strategist/storypage.php?leftnm=lmnu7&subLeft=8&autono=293226&tab=r )

[mayank23 (-=hidden=-)]

Hey Abhishek thats a wonderful clarification..well i have been tracking this issue for sometime too and coudnt agree more with you.

Well to begin with i think IBS is in a far better position than ISB or Gr8Lakes as they have no UGC approval...while IBS is under UGC so technically doesnt need AICTE approval in the first place. AICTE is for diploma's , while UGC for degree as rightly pointed out by you


As Rashmi Bhansal (IIM-A) Points our Correctly in her Blog

[chiragchiz19 (Chirag)]

hey guys! I know we all respect our insti from the very bottom.
i m a student in mumbai. and trust me, our monthly expense here for the very basics of living adds to our loan heavily.

i think we need to think why daddy's(AICTE) involvement has to be there?

let's say, Batch strength?, proper structure to at least conduct classes?

we in mumbai, don't even have a proper place to conduct classes. more than 800 students study in just one building. there were previously two buildings(where students used to to-&-fro all the time), but now there's just one, since our leasor, Nirlon Ltd, has converted itself to Nirlon Knowledge Park, which is currently going through a complete reconstruction. our buildings have been purchased by companies to have a space in mumbai, and we are moving out the campus.

the question is where? Ans: don't know. A new builiding for another temporary residence is being built up but not yet even the ground floor.

ok this was the infrastructure? abt the administration.

perfect eg: The dean doesn't even know we r being charged for the printout in the library.
one fine day, the dean comes and asks a few students sitting - "How come all of you have got the same Laptops, did u buy it from the same vendor?" the dean doesnt even know we're given dell laptops. and what' more we don't even have a secure place to keep.

you cant imagine our plight.
it were fine if we'd paid some fees of Rs.1,00,000 for the course. Paying 7 times in multiple of that expects good returns, dont u think?

and just frgt abt the internal evaluations affecting the CGPA, the one who licks gets the gifts.

AICTE may mess... around, but other pvt instis atleast have proper faciclities for their studs. here even the visitng faculties, the corporate standouts, are not happy.

[shiva_1001 (gupta)]

hey chirag...
i m realy happy that you r showing so much concern about our instiutte. but u need to think and speak facts wen u r posting to a place for general view. let me clarify a few things
1) no insitute's security guards looks after ur lappy bag (not even in our gurgaon campus), they are quite expensive and u only need to take care of it , above all, all the bags look the same , and all the students can't be trusted to be honest and trust worthy ....i belive u understand this rite.

2) now talking about the daddy (AICTE) issue .....friend i blive u dnt knw that aicte is not our daddy over here, we have already chosen UGC as our daddy , and we can't have two daddy's ....rite(kiddin) . other facts are posted in this string and i blive u shud go thru those which will make u understand why AICTE is not required, no point writing the same thing over and over again. and tell me onething can an AICTE guarantee a proper infrastructured institute? the answer is no. there are around 850 institute's in the country which are approved by AICTE ....how many are well infrastructured or have great faculty resource?????????????
moreover the question is not whether we shud take up AICTE approval...the question is whether we require or need to do it.

3) i solely symathize with u about ur dean not knowing about the laptops...but i guess there are more important issues he has to look forward to, by the way our dell laptops were decided from headquarters i.e hyderabad...but i agree that he shud be knowing about that.

4) and mate to tell u franky IBS-MUMBAI has the best placements as compared to all the campuses of IBS, which shud be more concern to you......and in a place like mumbai it is difficult for a institute to get a gud campus...specially being a private institute like ICFAI................ we are not supported by the goverment here friend.

5)our fees are sky high cause ICFAI is a private institute and doesn't get money from the government for its operation and we are the only source of income for the institute.

6)and lastly my friend it was u who chose ICFAI , icfai didn't choose u and it will be better if u utilize watevr resources u have in the best possible way , rather than cribbing abut it, it will hurt u only in the long term

i blive u take this on a positive note and i have been able to clarify ur queries to a certain extent. keep rocking

regards
shivanand gupta
shiva@ibsrocks.com
IBS gurgaon

[abhishek1711 (shah)]

[chiragchiz19 (Chirag)]

hey shiva,
thanx mate!!
your reply was as good as our admin here.
no doubt ICFAI is the biggest player among all the pvt instis. but don't u think it has to sustain that.
and the way we are movin around here, you'll definately doubt it.

One of our visiting faculty (a great big shot in his field) also visits NMIMS here. His opinion: he'll ask his company to recruit from there and not here. And his answer was straight.

anyways it's good to know that we're all positive about this.
dude, my point is not that this insti should or should not get UGC/AICTE approval. The point is - "who is there to make sure that we are given the proper treatment and facilities??"

No doubt the 2 yrs that u spend here r as good as you spend in a corporate. and also you learn the most positive way of getting things.
In that sense you are right. even i believe that B-Schools are not meant for only education. but also to teach and nuture the corporate talent so that India can get the best of skilled managers they can.
and again in that sense this collg has no doubt given me the experience, which i didn't in my ex, and the diversification that this collg has is huge. so no doubt it's learning experience for everyone.

But just consider this: Monthly Rent-2500-3000
Mumbai's travel-Ram Bharose kab Jam ho jaye- 800
Food here-sky rate- 2000
other - 1000 (like cell etc.)
so monthly - 6500-7000 bucks per month.
and the Loan-5.5 laks and that too floating rate so currently 13.5%
So the EMI - above Rs.10000 for 7 yrs.
And to live with a job in mumbai, you at least need 30,000 cash in hand. Trust me, if you don't believe it, you can ask anyone of ur friends in mumbai. whether this collg or not!

No doubt it was my choice to join here. But this is not the answer we look to mate!! is it?
From the admin it's the ulitmate answer - "ask HQ"

No doubt at the end of day - Placement Matters.
and when u talk abt mumbai, placements is one thing u are looking fowards to!
but again let me give u hint:

'You are in the Placement Committee as a member' ' You can talk and lick the place team'
Now a company has a GD as elimination round.
You know the group you're selected in comprises of geniuses. those who can state "CONTENTS".
what can u do to come out as a clear winner??

Change your group of course.

Now where does UGC or AICTE fits in?
1st let's talk money - if i m getting the same facilities here. 5 & half is vay more dude!
and if there's UGC approval, then we must get Grant isnt it? but where the reduction in fees dude? the new batch is infact paying, 1,00,000 more.

UGC, Deharadun is not the solution to this mate!! don't you see our Degree Form?

OK now if we look to globalising our School, my Friend gone to AUS, loan worth - 25 laks
he easily claims to repay it withing 5 yrs. Now if we claim to be on Global Accredition and competitive then my as.... is gonna be killed repaying some 6 laks rs. with EMI of abv 10K and a placement of just 4-4.5 lacs p.a that to CTC.

We can definately look at the big picture and look positive. But there are matters which calls for attention mate!!!

And that's why the pinching of UGC or AICTE is required which can ask the Insti to look into the infrastructure and Batch strength and other educational matters.
whether we've got approval or not. But this regular pinching is required to make sure our future. cause that's what matters more than just looking positive or appreciating for few good things at a high price.

anyways m also having the same opinions as yours and i appreciate that we talked. but we also need to think of various other opinions that our mates have. isn't it?