Institute of Science & Management (ISM), Ranchi formerly known as Indian Institute of Science & Management had, came into being in the year 1985 under the aegis of Dr.Sachchidanand, the then Vice Chancellor of the Ranchi University, with an idea of catering to the long felt need of management education to the upcoming youth of the developing region of Chgotanagpur, now Jharkhand. A two-year full time Management course leading to the award of Post Graduate Diploma in Business Management (PGDBM) started in 1988. ISM holds its formal approval from AICTE since 1994. The Institute since then had its steady progress and it transcended its original bounds, emerging as one of the best Management Institutes in India occupying the 52nd position as rated by COSMODE, a Hyderabad based accredition organization.