Students with IIM officials pose for a group photograph in Ranchi on Wednesday. Picture by Hardeep Singh

IIM-Ranchi will set up a Business Analytics Centre (BAC) in association with software major IBM to give the basic two-year postgraduate diploma in management (PGDM) an impetus.

The decision to this effect was taken on Wednesday during a meeting of IIM-Ranchi’s board of governors chaired by R.C. Bhargava, former managing director of Maruti Suzuki (India) Limited.

Speaking to The Telegraph, IIM-Ranchi director M.J. Xavier said the BAC would be of immense help for students of basic PGDM courses as well as other programmes.

“IBM would be setting up a laboratory comprising computers and specialised software for the purpose,” he said, adding that it would help in quality research in many areas of management.

Students who would be part of BAC would be provided certificates by IBM. Xavier claimed that IIM-Ranchi would be the first management institute to open such a centre.

The board meeting, which was also attended by mentor-director Shekhar Chaudhuri of IIM-Calcutta, also decided to appoint a faculty for the BAC.

Besides, the board gave in-principle approval to appoint one project consultant for the upcoming permanent campus of IIM-Ranchi in Kanke, where the state government has provided 76.6 acres.

During the convocation, Bhargava outlined the journey of IIM-Ranchi so far.

“Do not think the learning process has ended with a PGDM from IIM. Always be humble and open minded and never compromise on values for they distinguish the leaders from others,” said Bhargava, during his brief but meaningful address to students of 2010-12 PGDM.

Xavier called upon students to imbibe three qualities in life — humanity, honesty and hard work — for individual and corporate sector.