AICTE (All India Council of Technical Education) has issued detailed guidelines which b schools will have to follow, reports the Times of India.
But, I have doubts whether anything will really change. For example, AICTE has asked the state fee committee to fix fees taking into account the 'core structure of the course'. Wonder what the hell that means!
B schools are able to charge the amount they do today because there is an insatiable demand for the MBA course. And only a very limited supply of quality institutes. But who's to decide how much a course is 'worth'?
Full time faculty and infrastructure are the two main components of 'cost' for an institute. Most b schools - including some very well known ones like Bajaj - manage with 10% full time professors. and 90% visiting faculty.
So some kind of formula could definitely be worked out... but who's to do the job and ensure that everyone accepts it? AICTE hardly seems prepared to take up the challenge.
What AICTE does...
Is issue guidelines. Its 'declare-or-else' threat-list is admirable in scope. Bschools are being asked to share detailed details on no of seats, cut off marks for admission, and even placement statistics of last two years with minimum, maximum and average salary.
The question is - who will verify this information?
The magazines who undertake B school rankings also attempt to collect and validate such details, with the help of professional market research agencies. But given the large number of institutes - and the many ways available to embroider the truth - even they are unable to nail those who exaggerate or ovesatte claims.
Additionally, B schools with foreign collaborations are being asked to disclose the accreditation and ranking of the foreign institute in its home country, among other details. But many b schools - such as IIPM with its 'IMI, Europe' collaboration - are not approved by AICTE in the first place.
Bottomline: At worst, AICTE can derecognise an institute which refuses to follow its diktat. How many students however really CARE whether they are joining an AICTE approved B school? And recruiters don't seem to, either
AICTE itself needs to go on a MASSIVE brand building exercise.As well as improve its own credibility. By behaving like a typical government department and giving accreditation to unworthy institutions it has lost the high moral ground it is now seeking to re-conquer.
Frankly, I think a new and more powerful 'stamp' of quality from an independent body is now required to help separate the good from the ghatiya and worse, the ghotaalebaaz.