Big Plans for ICFAI

ICFAI (The Institute of Chartered Financial Analysts of India) - which has few privates universities in the states of Uttaranchal, Tripura, Sikkim, Mizoram, Meghalaya, Nagaland and Jharkhand is planning to increase the number of private universities to 15 by year 2010. The total cost is estimated to be of Rs. 1,000 crore. Private University is a university which does not receive any financial support from the government. The concept of private universities is new in India but its supremacy can be seen in all over the world esp. in countries like the US, UK, Canada, Australia and other developed countries. ICFAI has already allocated lands in Nagpur (54 acres), Kanpur (60 acres), Chandigarh (50 acres) and Jaipur (40 acres). ICFAI has also started building its own campus on one-million square feet in Dehra Dun with a budget of Rs. 90 crore. The first phase of the campus in Dehra Dun is expected to complete by June this year. In addition to all these, ICFAI is building a 1.5-million square feet campus spread over an extent of 93 acres in Hyderabad .The facilities available in ICFAI Hyderabad are the best among all its campuses in India and the college is always ranked among top20 b-schools in India published by various magazines and organizations. The institute will be converted into a university once the Andhra Pradesh government implements its decision of introducing a Bill facilitating the establishment of private universities in the state. ICAFI is always considered as a high charging institute but it does spend a lot of money on scholarships. Across the country, ICFAI currently has 4,000 MBA students, 2,000 engineering students, 1,500 rural MBA students and 1.2 lakh students who have been registered under its distance education programme. It charges a fee of Rs 5 lakh for the two-year MBA course and Rs 4 lakh for the four-year engineering course.