Aryabhatta Knowledge University, Patna was established by the Government of Bihar through the Aryabhatta Knowledge University Act, 2008 [Bihar Act 24 of 2008] to incorporate a University and to conduct and facilitate affiliation of institutions set up by the Government and/or the Trust or Society in the conventional as well as new frontiers of professional education, for example, Engineering & Technology including Information Technology, Nanotechnology and Biotechnology, Management, Medicine, Health, Technology, Public Health, Pharmacy, Optometry, Nursing, Education, Law, etc., and also to achieve excellence in teaching, research and extension work in these and related areas.

The vision of Aryabhatta Knowledge University, Patna is to be a vibrant knowledge University, resonating with the mission of all-round development, by providing value-based, creative and innovative quality education.

The Indian Institute of Business Management (IIBM) in Patna is affiliated with Aryabhatta Knowledge University (AKU), Patna. This affiliation applies to its BBA, BCA, and MBA programs. Additionally, these programs are recognized by the All India Council for Technical Education (AICTE), Government of India.