In a first of sorts, The Graduate Management Admission Council (GMAC) has acquired Narsee Monjee Institute of Management Studies (NMIMS)’ entrance exam, the NMAT. This means that henceforth, GMAC will own, determine and augment the NMAT exam. The exam has been renamed ‘NMAT by GMAC.’
The exam process and format will remain more or less the same. The new owners are expected to bring global diversity and better technology to the exam. The renamed exam will be conducted between October-December 2015 and the registration for the exam will begin in July.
According to Rajan Saxena, Vice-Chancellor of NMIMS, the motive behind the acquisition was to make the exam a multi-school one with an increasing number of schools taking the exam. “Already some 9 schools have said yes in principle to use NMAT by GMAC scores for their admissions and we expect more will follow soon,” he said.
Dr Saxena said there is also a move to approach AICTE and get this exam included in the list of exams approved by AICTE.
Dr Saxena refused to speak on the nature of financial transaction involved in this acquisition. His comment was: “Both are non-profit bodies so why should we talk about the financials. That is private and would not like to talk about it.”