National Institute of Technology, Jamshedpur, earlier known as Regional Institute of Technology was established on 15th August 1960 as a joint venture of Government of India and the Government of Bihar in the chain of RECs (Regional Engineering College) in India with the aim to generate technical graduates of highest standards who could provide technological leadership to the region. On 27th December 2002, in the line of all other RECs of India, RIT Jamshedpur (may be read as REC Jamshedpur too) was converted to National Institute of Technology, Jamshedpur with the status of a Deemed University as per the decision of Govt. of India. The Institute is fully funded and governed by the Ministry of Human Resource Development (MHRD), Government of India since 1st April, 2003. On 15 August 2007, NIT Jamshedpur was given the status of the Institute of National Importance through an Act of the Parliament known as the NIT Act.