200 MBA institutes shut shop in 3 yrs.
According to the Ministry of Human Resource Development, this year, 89 such institutes have already got a goahead from the All India Council for Technical Education ( AICTE) to shut shop. A total of 145 institutes have sought closure so far. The number of closures this year is way more than last year, when 62 out of the 122 that had applied for permission got an approval to close down.
HRD officials say about 100 to 150 management institutes apply for closure every year and nearly half of them are allowed to stop operations after proper scrutiny by AICTE. AICTE officials said they make sure students are not affected before approval is granted.
" Students do not suffer any loss. They are either transferred to other programmes or the institutes close down only after the last batch graduates," said an AICTE official.
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