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Following recommendations of three expert committees, Union HRD minister Kapil Sibal has given in-principle approval to the country’s show-piece IIMs — hitherto closely tied to the apron strings of the Following recommendations of three expert committees, Union HRD minister Kapil Sibal has given in-principle approval to the country’s show-piece IIMs — hitherto closely tied to the apron strings of the ministry — to rationalise their boards of governors, improve faculty pay scales, and establish formal fundraising offices to augment their incomes