"It is heartening to note that IIM-Calcutta is ranked No. 1 in finance and No. 2 in economics among the top 70 global business schools that offer masters in management programme," the survey said. Rankings for career status of alumni after three years of completing graduation has placed the institute at the first spot. According to Professor Ashok Banerjee, dean of new initiatives and external relations, in charge of the ranking matters at IIM-Calcutta: "We believe that these rankings come as a recognition of overall quality of our post-graduate programmes and performance of our alumni after they pass out from IIM-Calcutta." "Having said that, these rankings will put also greater responsibility on us to perform even better in the years to come to further improve our ranking. This is a challenge and we will take all possible measures necessary for continuously improving the quality of education that IIM-Calcutta offers," Professor Banerjee said.