Powers and functions of Institute

The Institute shall exercise the following powers and perform the following functions, namely:-

1. (a) to administer and manage such centres for research, education and instruction as may be necessary for the furtherance of the objects of the Institute;
2. (b) to provide for instructions in such branches of learning as the Institute may, from time to time, determine and to make provisions for research and for the advancement and dissemination and application of knowledge and skills;
3. (c) to impart and promote the study of economics and allied subjects and management courses through in-campus, off-campus and satellite centres or by distance educational programmes;
4. (d) to honour educational stalwarts and persons of academic eminence with the decoration of Professor Emeritus;
5. (e) to grant, subject to such conditions as the Institute may determine and confer, diplomas, certificates, degrees or other academic distinctions on the basis of examinations, evaluation or any other method of testing and to withdraw any such diplomas, certificates, degrees or other academic distinctions for good and sufficient cause;
6. (f) to confer honorary degrees or other distinctions on persons in the manner laid down in the ordinances;
7. (g) to provide education and training including correspondence and such other courses, to such persons who are not members of the Institute, as it may determine;
8. (h) to create administrative, ministerial and other posts and to make appointments thereto;
   • (i) to appoint either on contract or otherwise, visiting professors, emeritus professors, consultants, fellows, scholars, artists, course writers and such other persons who may contribute to the advancement of the objects of the Institute;
9. (j) to appoint or engage persons of eminence working in any other University or Organisation permanently or for a specified period;
10. (k) to co-operate, collaborate or associate with any other University or Authority or Institution in India or abroad in such manner and for such purposes as laid down in the statutes;
11. (l) to establish and maintain schools, centres, specialised laboratories or other units for research and instructions as are in the opinion of the Institute, necessary for the furtherance of its objects;
12. (m) to institute and award fellowships, scholarships, studentships, medals and prizes for meritorious students;
13. (n) to establish and maintain and supervise residences, hostels and promote the health and general welfare activities of students and staff, and recognize places of residence for the students;
14. (o) to make provisions for research and consultancy, and for that purpose, to enter into such arrangements with other institutions or bodies as the Institute may deem necessary;
15. (p) to declare a centre, an institution, a department or school, as the case may be, in accordance with the statutes;
16. (q) to determine standards for admission into the Institute, which may include examination, evaluation or any other method of testing;
17. (r) to prescribe, demand and receive payment of fees and other charges; to make such arrangements in respect of the residence, discipline and teaching of women and other disadvantaged students as the Institute may deem fit;
18. (t) to regulate and enforce discipline amongst the employees and students and take such disciplinary measures in this regard as may be deemed necessary by the Institute;
19. (u) to organize and undertake extra-mural teaching and extension services;
    • (v) to establish such special centres, specialized study centres or other units for research and instruction as are, in the opinion of the Institute, necessary for the furtherance of its objects;
20. (w) to institute Professorships, Associate Professorships, Assistant Professorships and any other teaching, academic or research posts required by the Institute;
    • (x) to receive grants, endowments, subscriptions, donations and gifts for the purposes of and consistent with the objects of the Institute;
21. (y) to acquire, hold, manage and dispose of any property, movable or immovable, for the welfare of the Institute with the prior approval of the Governing Council: Provided that no land granted by the Government shall be disposed of without the prior permission of the Government;
22. (z) to borrow money without security or by way of hypothecation or mortgage against the property of the Institute, with the approval of the Governing Council;
23. (aa) to do all such other acts and things as or may be necessary, incidental or conducive to the attainment of any or all of the objects of the Institute.