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Wednesday, July 23, 2008

Profit by IIM CAT forms

A report states that the seven IIMs in the country- Ahmedabad. Kolkata, Lucknow, Indore, Shillong, Bangalore and Kozhikode made a profit of $5.5 million (Rs.22 crore) from merely selling the cat mba entrance test forms.

IIMs have raised the price of forms for general candidates by Rs200 and for SCs/STs by Rs100. The administrators of the MBA CAT examination, called the CAT group, a body consisting of admission committee chairpersons of each of the IIMs, have raised the cost of forms for so-called 'general' candidates by Rs 200 - from Rs 1,100 to Rs 1,300 - and for those belonging to the scheduled castes (SCs) and scheduled tribes (STs) by Rs 100 from Rs.550 to Rs. 650.

The profit from the sale of forms is equally distributed among the IIM after deducting the cost of organizing CAT.

Last year, the IIMs had earned around Rs24.2 crore selling these forms and spent around Rs6.2 crore for conducting the mba cat examination, making a profit of Rs18 crore

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