Ranchi: The Indian Institute of Management, Ranchi (IIM-R), will become operational this year with classes starting from June or July, chairperson R.C. Bhargava said on Friday.

"The IIM-Ranchi classes will start from June or July this year. The process to select the students will be done through Common Admission Test (CAT). There will be 60 to 70 students in the first batch. The annual fees will be Rs.3 lakh," Bhargava told reporters here on Friday.

He said, "IIM-Calcutta will ensure faculty and provide syllabus to IIM-R. Besides visiting professors, the IIM-R students will get education through audio visual methods and other multimedia methods, including video conferencing."

The classes of the IIM will start at fifth floor of Soochna Bhawan of Information and Public Relation Department (IPRD), Ranchi.

Jharkhand Human Resources Development (HRD) secretary Mridula Sinha assured that the state government would extend all possible facilities to IIM-R. IANS