National Institute of Technology, Jamshedpur was formerly known as Regional Institute of Technology. It was established in the year 1960 as a joint venture between the Government of India and Government of Bihar. NIT Jamshedpur was among the first 8 NITs to be established as the part of 2nd 5-Year Plan. The institute was renamed as the National Institute of Technology in the year 2002 and it was then, that it was given the status of a Deemed University. It is fully funded and governed by the Ministry of Human Resource Development (MHRD), Government of India. Like all the other NITs, NIT Jamshedpur also has been given the status of Institute of National Importance.