IIM Visakhapatnam gold medals real and cost 1.45 lakh INR each

The only institution in Telugu states that uses pure yellow metal for medals is IIM-Vizag.

Gold medals that the Institute of Management (IIM) Visakhapatnam distribute to its toppers contain 30 grams of gold, including wastage. According to TOI, each medal presented by the IIM-Vizag costs nearly 1.45 lakh INR. The reports state that the only institution in Telugu states that uses pure yellow metal for medals is IIM-Vizag. The report suggests that the majority of the institutions, as well as universities in Andhra Pradesh and Telangana, present only gold-plated medals to meritorious students. Each of such medal contains up to three to four grams of gold, the rest being copper, silver or brass.

On October 30, IIM-Vizag gave away 13 gold medals for the toppers of PGP 2018-20 and PGP 2019-21 and the executive management programmes. The medals included “The Vani Row memorial gold medal” for securing the first rank among girls. The 13 gold medals, with 92% purity or 22-carat, have cost the institute a total of Rs 18.93 lakh, TOI said.

Due to the pandemic situation, IIM-Vizag conducted the fourth and the fifth annual convocations via virtual mode in the month of July. As the COVID-19 situation is improving these days, the IIM-V invited the toppers to the campus to receive the medals personally on October 30.

Out of the 13 gold medals presented by IIM-Vizag recently, the expenditure of only two gold medals (one each for an academic year) is met from the revolving fund established by a donor. The cost of the remaining medals is borne by the institute itself, TOI said. Students, who received the gold medals, were surprised when they learned that they are indeed of gold and not gold-plated, the report said.

Read More:

• IIM-V Courses
• IIM-V Admission