To accommodate the expanding student capacity, IIT-Bombay plans to build hostels and residential facilities for undergraduate, married and post-doctoral students. IIT-B will also soon set up a National Centre for Mathematics with Tata Institute of Fundamental Research.
These announcements were made during the annual Alumni Day on Sunday, when the class of 1988 also celebrated its silver jubilee reunionthis year, as a part of the function. "Today, IIT-B is the preferred destination for IIT-JEE toppers. The student strength at the institute has grown over the years; we now have about 3,700 undergraduate, 2,800 masters and 2,300 PhD students," said Devang Khakhar, director, IIT-B. "The work to establish a technology park at IIT-B will commence early next year."
As part of the legacy project, the alumni have pledged a sum of Rs 2 crore towards three existing initiatives. They include the retired faculty wellness fund, which includes medical coverage for faculty members who retired prior to 2003 and their spouses; financial aid for needy students, which gives unsecured loans for needy students at low interest rates for tuition and hostel and mess expenses, and to buy a laptop, travel for conferences etc; young faculty award or new faculty sign-on bonuses and faculty development fund , all instituted to attract and support new faculty members at IIT-B. The project gives a joining bonus of Rs 4 lakh over a period of three years to new faculty hired at IIT-B and financial aid in the subsequent years.
Kiran Shesh, a representative of the silver jubilee batch, said, "We felt that it is important to support the retired faculty members, who have played a great role in shaping many careers, as well as to attract talented young minds to take up teaching at IIT-B. Hence, we have decided to contribute towards the existing projects that are supporting the same goal. Also, given the fact that the cost of education and living has increased substantially, we would like to offer more financial aid to the deserving and needy students at IIT Bombay."
This year, the distinguished service awards were bestowed on six alumni-Dhananjay Saheba, Sameer Katdare, Ruyintan E Mehta, Ajay Bhagwat, Amol A. Gokhale and Paresh Vora-who have besides being achievers in their chosen domains have contributed to the progress of the institute. The award, instituted in the year 1999, consists of a certificate, memento and an Uttaria. This year, the award was conferred on Dhananjay Saheba, Sameer Katdare, Ruyintan E Mehta, Ajay Bhagwat, Amol A. Gokhale and Paresh Vora.