Indian Institute of Technology (IIT) fee raised from Rs 90,000 to Rs 2 lakh for students in the upcoming academic year, says the HRD ministry. However, this new fee will not be applicable to SC, ST and BPL students.


This comes after a committee of IIT directors tasked with finding ways to achieve greater financial autonomy for the schools has suggested an over threefold hike in student fees and creation of a Rs 2,000-crore nonbanking financial company.

The NBFC will offer interestfree loans for futuristic projects, research infrastructure and efficient use of space on campus.


Another key recommendation the Standing Committee of IIT Council made was that the proposed new entrance examination designed to test the aptitude conducted by a National Authority of Test (NAT) would be held from 2017 onwards.