I genuinely hope the IIM Coordination Forum enforces this aggressively and it doesn't just remain a "recommendation." Historically, the premier IIMs have protected their autonomy fiercely, using it to set their own rules and timelines.

Keeping only ₹1,000 as a processing fee and refunding the rest is an absolute game-changer. Previously, some B-schools would aggressively hoard massive non-refundable sums if you tried to withdraw after a certain arbitrary date, forcing middle-class students into high-interest bridging loans just to secure their dream campus while waiting on upgrades

This is a monumental victory for student rights and mental sanity. The current chaotic, decentralized system forces candidates to block seats across 3 or 4 different IIMs simultaneously, locking up lakhs of rupees in acceptance fees while waiting for final waitlists to clear. Forcing the 21 IIMs to set up a Joint Seat Allocation Authority (JoSAA) style centralized system like the IITs will instantly clean up the process and stop unnecessary waitlist stagnation.