The Indian Institute of Management Bangalore (also known as IIMB) is a public business school located in Bengaluru, Karnataka, India. Founded in 1973, it was the third IIM to be established, after IIM Calcutta and IIM Ahmedabad. It is consistently ranked as one of the best business schools in India and the Asia Pacific region. It offers a Doctoral and several Post Graduate programmes, as well as a wide array of Executive training programmes.The Post Graduate Programme in Management (PGP), a two-year, full-time, residential MBA programme, is IIMB's flagship. As an autonomous Central Educational Institution of the Department of Higher Education, Ministry of Human Resource Development, Government of India, IIMB awards students graduating from the PGP a Post Graduate Diploma in Management (PGDM), which is equivalent to MBA degree offered by universities. While prior work experience is not mandatory, a majority of students in this programme have work experience of two-three years.