The Hyderabad-based Indian School of Business (ISB) has been placed 12th in the world B-School rankings published by the Financial Times.

This is the third successive year when ISB, which was set up in 2001, found a place among the top 20 in the group of top 100 B-Schools globally.

Previously, the B-School was ranked 15th in 2009 and 20th in 2008.

While talking to media over telephone, newly-appointed Dean of ISB Ajit Rangnekar stated that the latest achievement shows the constancy of growth the B-school is showing throughout the world.

"Standing 12th internationally certainly gives us immense pleasure. But it happened in the due course of the committed work the staff and other members of ISB are showing and we are more than happy to accept it with humility,'' Mr. Rangnekar said.

Congratulating the ISB group, ISB Chairman Rajat Gupta said, "We began with the idea of creating a school in India that would rank among the best in the world. I am delighted that the ISB is consolidating its position as a top-ranking global business school.''

Moreover ISB will shortly establish its second campus in Mohali, Punjab. The first academic session at the ISB campus in Mohali is likely to start by 2012.

London Business School, UK has been placed on top position, while the MBA schools from USA bagged No. 2, 3 and 4 positions respectively.

The US MBA schools included Wharton (University of Pennsylvania); Harvard Business School and Stanford University GSB in their ranking order.