It has been more than two years since IIM Calcutta had a full-time director.The appointment of a full-time director comes after a second-year student was arrested on a charge of rape.

Rai taught management at Banaras Hindu University before to becoming vice-chancellor of Lucknow University. He was also a member of various top-level committees and commissions.

The first university in Uttar Pradesh to obtain NAAC A++ certification was Lucknow University, which Rai oversaw. Furthermore, it received Category-I status from the UGC and was placed 32nd in the State Public University category, ranking among the top 100 universities in the NIRF.

Also, IIM Calcutta and ed-tech firm Imarticus Learning have joined hands to create an executive course in private equity and venture capital. The course will be for finance managers and entrepreneurs. The live online seven-month course will integrate theoretical learnings from academics with real-world guidance from IIM Calcutta's finance faculty and veteran private equity and venture capital experts.

This training will equip finance professionals and companies to handle the dynamic world of investing. Both basic and complex subjects will be covered in the course, such as deal sourcing, valuation, financial modelling, fundraising, portfolio management and exit tactics. Staying in line with emerging trends, the course will address the entire investment process, including digital and regulatory concerns based on the press release.