Milan-based business school has not sought AICTE approval, the other says it has got UGC’s thumbs-up .
While the Foreign Educational Institutions Bill is lying in cold storage for two years, foreign institutions continue to make forays onto Indian soil.
An Italian major, MISB Bocconi, has chosen Powai as its new address. The Milan-based International business school has started admissions for two-year post-graduate programmes in Mumbai.
While the school has not sought approval from the All-India Council of Technical Education (AICTE), whose nod is a must for all technical education institutes across India to run any course, it promises to give degrees from the parent campus of SDA Bocconi in Milan.
“We have started admissions and classes will start from July. Degrees will be awarded by the Milan campus,” said Ashish Shah, national head of MISB Bocconi.
Students will have to pay around Rs17 lakh for the MBA course, in which a semester in Milan is included.
The Canada-based Schulich School of Business will start in Hyderabad next year. It aims to conduct one semester in Canada to award the Canadian degree until India is ready with regulations.
Likewise, the Fazlani Altius Business School (FABS) set up three campuses in Mumbai (Powai), Delhi and Bhubaneswar last week. Admission to the MBA (applied HR) and MBA (sales and marketing) courses will begin from May 15.
“All sales and marketing students will get job offers on day 1 of admission,” said Ashfaq Ahad, co-founder of FABS. Ahad said the institution had got the University Grants Commission's nod. "We are seeking a tie-up with Annamalai University for degrees and certificates,” he said.
AK Shukla, head of the AICTE's Maharashtra branch, however, said any degree acquired through a course without AICTE approval would be considered a fraudulent degree. “AICTE approval is a must for any institution offering technical courses, including management courses,” he said.
It is yet to be seen whether the colleges can fill up the seats. Two months ago, Mumbai Business School shut its doors owing to poor occupancy. The directorate of technical education, Maharashtra, said that of 33,500 seats for MBA/MMS courses in 2011, 51% seats went vacant.
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