The McPherson Committee formed by Govt. of India, recommended the establishment of an institution for imparting education in the fields of Mining and Geology, whose report, submitted in 1920, formed the main basis for establishment of the Indian School of Mines (ISM), Dhanbad. ISM was formally opened on 9th December 1926, by Lord Irwin, the then Viceroy of India to address the need for trained manpower related to mining activities in the country with disciplines of Mining and Applied Geology. In 1967 it was granted the status of a Deemed to be University under Section 3 of UGC Act, 1956.and came under direct control of MHRD in 1996. Since its establishment, the Institute has undergone considerable expansion of its activities, and presently it can be considered as a total technology education institute.
The Institute has been declared as Indian Institute of Technology (Indian School of Mines), Dhanbad vide S.O.2870(E) of No.2173, Part II Section 3 – Sub section (ii) of The