History
In 1972, a committee headed by Professor Ravi J. Matthai, seeing the rising demand for graduates of the first two IIMs namely IIM Calcutta and IIM Ahmedabad, recommended the need to have two more IIMs. It was, therefore, felt that the institute to be set up in Bangalore should be developed in such a manner as to prepare competent persons for fulfilling the needs of the public sector. The institutions that were kept in mind were bodies like electricity boards, water supply boards and HMT, ITI, BEML, road transport, corporations, municipal corporations, and the like. The Institute at Bangalore was consequently set up that year, designed to cater exclusively to the needs of Public Sector enterprises. For the proposed Bangalore institute, the Government of Karnataka offered 100 acres of land free of cost and a contribution to the corpus of Rs. 30 lakhs. Mr T A Pai agreed to be the first chairman. N S Ramaswamy, who was then director of National Institute of Industrial Engineering, was appointed the first director. Considerable preliminary work was done, and the new institute was inaugurated by Mrs. Indira Gandhi, the then Prime Minister of India, on 28 October 1973.The institute was started in St. Joseph's College of Commerce, and some other buildings, which were rented.Even this IIMB building was given for the bollywood shooting for the movie 3Idiots which was a blockbuster movie.
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