Mumbai University’s Jamnalal Bajaj Institute of Management Studies (JBIMS) will soon be granted independent university status. Indian businessman Ajay Piramal, who is also an alumnus of JBIMS, will head the committee to decide the roadmap ahead which entails examining the potential to make it operational from the academic year 2025-26, starting in June.
Maharashtra’s Higher and Technical Education Minister Chandrakant Patil made the announcement on Saturday. He was speaking as chief guest during the inaugural function of diamond jubilee celebrations of JBIMS held at Sir Cowasjee Jehangir Convocation Hall of Mumbai University.
Set up in 1965, JBIMS, which operates from the iconic red-bricked building in Churchgate, has completed 60 years. As the two-day celebration was inaugurated on Saturday, Patil said the progress and achievements of the institution in the last 60 years are unparalleled and glorious. “If JBIMS gets the status of an autonomous university, students from all over the world will be able to come here to pursue world-class management education. Additionally, other management colleges can be benefited with their affiliation to JBIMS,” said Patil, while adding that a one-member committee of industrialist Ajay Piramal should look after the work for the conversion and that the government will provide all possible support for this work. “He will be joined by government members and other representatives in the committee,” said Patil.
Noting that the JBIMS is a ‘CEO factory’, industrialist Ajay Piramal, an alumnus of the 1977 batch said, “The institute has produced the most CEOs. The performance of the institute as a CEO factory has been the best in all respects.” Piramal, who as an alumnus has taken this initiative of bringing university status to JBIMS, said, “The new status will definitely bring about positive changes.”
Founded by Mumbai University and supported by Jamnalal Bajaj Sewa Trust, JBIMS is named after industrialist Jamnalal Bajaj. The institute has pioneered the first full-time two-year MMS programme in India. As per the information shared by Mumbai University, it has now been permitted by the University Grants Commission (UGC) to offer India’s first M Sc in Finance.
Among other attendees at the inaugural function of Diamond Jubilee year celebrations of JBIMS included state’s Information and Technology, Cultural Affairs Minister Ashish Shelar, industrialist Shekhar Bajaj, MU’s Vice Chancellor Prof Ravindra Kulkarni, Pro-Vice Chancellor and Principal Dr Ajay Bhamre and Director of IIM Mumbai, Dr Manoj Tiwari and several former and current students of the institute.
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