Yes, IBS follows a refund policy generally aligned with UGC guidelines. If a candidate withdraws before the commencement of the program (usually mid-June), the caution deposit and a majority of the tuition fee are refunded after a nominal processing fee deduction (approx. Rs. 1,000–Rs. 5,000). However, if a student withdraws after the program has started and the seat remains vacant, the refund amount is significantly lower. Exact dates and deduction slabs are mentioned in the final admission offer letter.