Following the lines of the United Kingdom (UK), the All India Council for Technical Education (AICTE), has decided to amend its Act drawn up in 1987 to give nod to one year MBA programme. Till this date one year MBA course offered by B-School is considered as unrecognized by the AICTE. In spite of this, number of prominent colleges including the Indian School of Business (ISB), Hyderabad and Great Lakes School of Business in Chennai backed by the industrial house Godrej offers a one-year full-time postgraduate programme in management. Both the institutions has been declared as unrecognized by the AICTE.
Now, both the colleges have applied to the AICTE for recognition. 'We have started framing rules to legitimize one year MBA programme, because a number of colleges offer one year MBA programme. Some industrial houses had also approached the Prime Minister's Office stating that one-year management courses across the world were popular and the government should amend the AICTE Act with the changing times,' informed an official from AICTE. As per guidelines released by AICTE for two years MBA Course, its obligatory for B- Schools to provide a minimum of 1,050 to 1,200 hours of classroom teaching. And it should be half ( 600 hours ) for colleges offering the year- long programme with a minimum of 100 hours spent on project work or industry based assignment. Apart from this, the student wanting to enrolled for the part time management courses will require work experience of a minimum of two years.