Is it compulsory for the B-Schools to be recognized by AICTE ?

It is more or less important for a program to be recognized by the AICTE in India. The recognition ensures that the program offered by the B-School meets all the quality standards that are important for the successful delivery of the programme.

But, still you will observe that the top B-Schools in our country like the IIMs are not approved by the AICTE but by  the Ministry of HRD and are accepted in India as well as worldwide. Other programs offered by the University of Mumbai through B-Schools like JBIMS, Sydenham etc. are also the exceptions to this. Yet there are others like NMIMS and Symbiosis that hold a Deemed University status.