Central Institute of Business Management Research & Development (CIBMRD) was established in 1994 as an offshoot of Vidya Shikshan Prasarak Mandal (VSPM) the roots of which are 41 yrs old. Honorable Shri. Ranjitbabu Deshmukh, Ex- minister for Agriculture and Textiles, today heads VSPM which has been able to establish around 64 academic institutions imparting various regular and professional courses.