The Indian Institutes of Management (Amendment) Bill, 2023, has been passed by the Lok Sabha, entrusting the management accountability of the institutes to the President of India. The bill was introduced on July 28 and was passed by the lower house despite disruptions from opposition members. The academic accountability for IIMs will remain with the institutions. The amendment bill seeks to amend the IIM Act of 2017, allowing the President to audit the functioning of IIMs, order probes, and appoint or remove directors.
