The intake is also slated to double in the coming academic year, and the management has secured three corporate fellowships of Rs.3 lakh a year from SAP Labs India, EADS and the Supply Chain Management Centre, in addition to the existing one sponsored by Infosys. IIM-B will soon be on a par with IIM, Ahmedabad, in terms of facilities and research activities, he said.

IIM-B has received 700 applications this year for the research programme, which is completed in four to seven years.The financial assistance for research scholars will be extended to five years from four and the annual contingency for academic expenses will be doubled to Rs.50,000 a year.

Monthly stipends have also been increased from Rs.10,000 to Rs.15,000 and house rent allowance goes up to Rs.8,000.

"We will be looking at major expansion and at improving infrastructure and accommodation. Besides corporate sponsorships, we are looking at many ways to strengthen the research programme," said Pankaj Chandra, director of IIM-B.