There are several criteria on which MHRD ranks Engineering colleges/ universities.
According to me, NIT Jamshedpur lacks good academic infrastructure. This is one of the main hindrances in its path to glory. The teacher-student ratio isn’t that good. For a course like B.Tech CSE, the staff strength is not even one-fourth of the student population. By staff I also mean the Associate Professors, Ad Hoc faculties, Lab Assistants and clerks.
But NIT Jamshedpur has a good placement record. The academics of this institution are top-notch. It has given some of the best brains to this country.
There are several other criteria for NIRF rankings. NIT Jamshedpur lags in some of them but performs well in others. It did rank in the top 100 Engineering colleges in NIRF Rankings, a few years back.
NIT Jamshedpur has its own strengths. You should definitely visit the campus and talk to some seniors/alumni. Do not base your opinion strictly on rankings.