Indian Institute of Management (IIM) Visakhapatnam distributes 30 grams of real gold medal to its meritorious students, which costs INR 1.45 lakh.
According to the TOI reports, the IIM Visakhapatnam awards gold medals that also includes wastage. IIM Vizag is the only institution that uses pure yellow metal for gold medals in the entire Telugu states.
Majority of the educational institutions and universities in Telangana and Andhra Pradesh present only gold-plated medals to their toppers and each of the medals contains a minimum of 3-4 grams of gold, including other materials like silver, brass or copper.
The institute distributed a total of 13 gold medals to its topper students from the batch of PGP 2018-20 and PGP 2019-21and executive management programs.
As per the TOI report, the gold medal was named “The Vani Row memorial gold medal” for a girl student who secured the first rank. The total cost of the 13, 22-carat gold medals with 92% purity was approximately INR 18.93 lakh.
Earlier, in July 2021, IIM Vizag conducted the fourth and fifth annual convocation through the virtual mode due to the pandemic situation. However, the institute invited the meritorious students to the campus on October 30, to present them the gold medals.
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Out of the total 13 gold medals distributed by IIM-Vizag, the expenditure of only two gold medals (one each for an academic year) is met from the revolving fund introduced by a donor and the expenses of the remaining medals was borne by the institute, the TOI report said.
Meanwhile, the students who received the gold medals from the institute were surprised when they learned that the medals were made of pure gold and were not simply gold-plated, the report said.
One of the students, Prerna Baid, who bagged two gold medals from the institute was overwhelmed when she learnt that the medals were purely gold and not gold-plated. Expressing her feelings, she said that only a few institutions across the world use pure gold metal for medals and it's surprising to know that IIM Vizag has used pure gold for the medals.
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