Check out this link: http://economictimes.indiatimes.com/IIM-A_entrys_tougher_than_Stanford_Harvard/articleshow/3815210.cms
The heading is appropriate. Everything after that is flawed. The first line is funny. By the time I read the second line, I was rolling on the floor laughing. Economic times is a reputed paper; cant believe that they can publish such things. Here are my comments:
1. Does a program whose minimum cut-off more than another school ensure that it is a better program? :) :) Also note, there is a minimum cut-off in IIMs, but there is a band in other international schools...Does that simply mean IIMs probably do not know how to measure things other than marks?
2. The reason for keeping the cut-off high is mainly because there are so many people who score high on GMAT (and desis, as everyone knows, generally max scores in tests) and applying for IIMs... Not because of anything else...You need a way to eliminate people and it is based on marks.
3. In India, admissions are still based on one's marks. Not much on experience, diversity, personality etc, unless u are a genius. Ultimately IIMs have to place them and only those with good marks are better placed here in India (Still the case...)...Cant take a chance, u see!
4. The IIM official who has spoken has just given facts... The reporter has made up a story around it...
5. Now with IT/ITes down, I think, IIMs might have started to realize that u need people from other fields too... So they have changed the mix in the name of diversity. Didn't IIM-A realize that 'diversity' is the key for all these years?? :) :)

Lets assume, for a moment, that IIMs are better than Stanford and Harvard. If this were true, wouldn't it make the comparison void?? You dont need to mention that you are better than others; it just shows up! Its another story if you really wanted to know in what way it shows up! But it definitely shows up! No advertising needed.