Scholarships for MBA Students in India 2023: Check Eligibility, How to Apply, Colleges Offer Scholarships

MBA Scholarships in India 2023: There’s nothing more fruitful than getting a scholarship while you pursue a Master of Business Administration (MBA). We all know that management is one of the most expensive fields of education and by the time the course is finished you are burdened by the amount of loan you took to pay your tuition fee. The good news is that you can get some relaxation on your expenses by applying for scholarships provided by business schools.

Although scholarships are usually based on past academic performances and entrance exam scores, you can still redeem yourself and get scholarships if you score well during the term of the program. Check out scholarships offered by some of the top business schools in India along with their eligibility, and application process.

Also Read: MBA Admission 2023

MBA Scholarships in India 2023

Scholarships are one of the most important factors considered by students when selecting a Master of Business Administration (MBA) college. Almost every college on the list of top MBA colleges in India offers scholarships so that students can complete their education without facing financial issues. Some of the colleges also offer scholarships who have participated in state-level or country-level championships.  

Top 8 Colleges Offering MBA Scholarships in India 

Some of the top B-schools offering MBA scholarships in India are:

Management Development Insitute (MDI), Gurgaon	Institute of Rural Management (IRMA), Anand
Indian School of Business (ISB), Hyderabad	Amity Business School, Noida
SRM School of Management, Chennai	ICFAI Business School
IFIM Business School	MICA, Ahmedabad

Institute-wise MBA Scholarships Offered in India for 2023-25 Admissions

Now, let us go through the colleges one-by-one that offer MBA scholarships in India:

Management Development Institute, Gurgaon

The NIRF 2022 Ranking of MDI Gurgaon is 13. MDI is an AICTE-accredited institute that is counted among the top B-schools in India. Apart from being the first management school in India accredited by the Association of MBAs (AMBA), it is also one of the few to have been accredited by the South Asian Quality Standards (SAQS). The following scholarships for management programs are available at Management Development Institute, Gurgaon.

S.No.	Name of the Scholarship	Eligibility Criteria	Amount
1.	Merit cum Means Scholarship	Offered to 10 students pursuing two-year full-time PGDM/PGDM-HRM/PGDM-IB (50% waiver of tuition fees)	Rs 17,60,000 per student
2.	Merit-based Scholarship	Offered to 2 students at the end of their 2nd year	Rs.10,000 per student
3.	Eiffel Scholarships	International scholarship for France offered to dual-degree program students	Not Available (NA)
4.	DAAD Scholarship	Students are selected by various business schools in Germany and offered financial aid.	NA
5.	O. P. Jindal Scholarships	2nd-year students are eligible for this scholarship	Rs. 1,50,000

Institute of Rural Management, Anand

The NIRF 2022 Ranking of the Institute of Rural Management, Anand is 58. IRMA is a one-of-its-kind management school in India, established with the motive of training rural development organizations and co-operatives in management skills. It was inspired by the work of Dr. Kurien and is one of the few institutions to offer rural management programs in India. MBA students can take advantage of the following scholarships offered by Institute of Rural Management, Anand:

S.No.	Name of the Scholarship	Amount
1.	Merit-based scholarships from Sir Ratan Tata	Five students are shortlisted and provide with funds that cover part of their fees during the second. This is subjected to a ceiling of Rs.50,000 per year to 2nd-year students on a year-to-year basis
2.	Scholarships for SC/ST Candidates	15 students belonging to SC/ST category are offered scholarships that cover their entire cost of education.
3.	GOI scholarships to IRMA for SC/ST students	10 students are provided with this scholarship.
4.	Scholarships from the Ministry of Tribal Affairs	5 ST candidates are shortlisted for this scholarship.
5.	National Dairy Development Board Scholarships	Students belonging to SC/ST category are selected for this scholarship.

Indian School of Business, Hyderabad

ISB provides various scholarships to its students in collaboration with its corporate partners based on their academic performance. Following are a few of the scholarships provided by ISB Hyderabad:

S.No.	Name of the Provider	Eligibility Criteria	Amount
1.	Citigroup	4 to 6 Students are shortlisted on the basis of merit.	USD 12,500 (approx. Rs. 9 lakhs)
2.	Novartis	Selection of 3 students is done on both merit and need basis.	Rs. 4,00,000
3.	Nurture India	Selection is done on the basis of their need	Rs. 4,00,000
4.	Manhattan Review scholarships	5 students are shortlisted on the basis of academic excellence.	Rs. 1,00,000
5.	Jamboree India-Talent Promotion Award	5 students are selected on the basis of both need and merit	Rs. 1,00,000
6.	ISB@10 Global Scholarship	10 international students are selected for this scholarship on the basis of merit	Varies from Rs. 3,00,000 to Rs.15,00,000

Amity Business School, Noida

The NIRF 2022 Ranking of Amity Business School, Noida is 28. Amity Business School is one of the top-ranking private management institutions in India. It has been counted among some of the top b-schools in surveys conducted by various organizations because of its commitment to equipping its students with the necessary professional knowledge and leadership skills necessary not only for succeeding in their careers but also for contributing towards building their nation. Some of the best MBA scholarships at ABS include:

S.No.	Name of the Scholarship	Eligibility Criteria
1.	100% Scholarship	Candidates having a minimum aggregate of 93% in Class 12 of CBSE/ICSE Board (excluding Physical Education, Fine Arts & Performing Arts) and 80% marks in graduation can apply
2.	50% Scholarship	Candidates must have at least 88% aggregate marks in Class 12 and 75% marks in their graduation.

SRM School of Management, Chennai

SRM School of Management is a renowned institution for management education offering BBA, MBA, Ph.D., and MMS programs in fields such as Finance, Operations, Data Analytics, etc. Its programs have been designed to create in-depth expertise in students, which is why its scholars can be found working at top positions at some of the best companies to work for in India. SRM offers the following MBA scholarship options for Indian students:

S.No.	Name of the Scholarship	Eligibility Criteria	Amount
1.	SRM Founder’s Scholarships	Top state rankers in final school exams, SRMEE, and exceptional sportspersons at the national and international levels are eligible to apply.	Full fee waiver along with a stipend of Rs. 1,000 per month.
2.	Merit Scholarship	Students who secured 95% and above in CBSE board exams and secured a rank amongst the top 8000 in SRMEEE can apply.	50% tuition fee waiver
3.	Merit-Cum-Means Scholarship	Students for this scholarship are selected on a need basis and their performance in entrance exams.	25% to 100% tuition fee waivers
4.	Scholarship for minority communities	Students belonging to minority communities are shortlisted on the basis of their performance in the entrance exam.	25% to 100% tuition fee waivers
5.	Scholarship for physically-challenged/differently-abled	Students with physical disabilities or differently-abled students can apply.	Full tuition fee waiver
6.	Scholarship for Special Merits	Students are shortlisted on the basis of exceptional literary debating, fine arts, and other such skills.	Tuition fee waiver of up to 100%

ICFAI Business School

The NIRF 2022 Ranking of ICFAI Business School is 32. ICFAI Business School is one of the best colleges for an MBA in India. It is part of the ICFAI Foundation for Higher Education and has a total of 9 campuses operating throughout India. The following scholarships are offered by ICFAI Business School.

S.No.	Name of the Scholarship	Eligibility Criteria	Amount
1	Merit Scholarships	Scholarships are distributed to students based on their GPAs in the 1st, 2nd, and 3rd Semesters of study. The scholarship amount varies according to the marks scored by the candidate.	Tuition fee waiver ranging from Rs. 20,000 - Rs. 50,000 per sem
2	Domicile Scholarship for IBS Dehradun and IBS Jaipur	For students belonging to the states of Uttarakhand and Rajasthan. Domicile certificate required.	Program fee concession of Rs. 50,000 is adjusted in a total of 5 installments
3	Past Academic Record Scholarship for IBS Dehradun and IBS Jaipur	For students of IBS Dehradun and IBS Jaipur who have scored 70% to 80% in graduation.	Rs. 50,000 - Rs. 1,00,000 adjusted in 5 equal installments of tuition fee.

MICA, Ahmedabad

MICA is a unique business school for MBA specializations in marketing and communications. The institute is a popular choice for students who wish to make a career in the fields of creative communication and digital marketing. The following scholarships are offered by MICA.

S.No.	Name of the Scholarship	Eligibility	Amount
1	MICA Scholarship	Students with an excellent academic record and family income not exceeding Rs. 8 LPA	Up to 25% of the annual tuition fee amount

IFIM Business School

Established in 1995, IFIM is a prominent institution for management studies in India. The 6th college in India to receive AACSB accreditation, it is known for its strong expertise esp. in the areas of Finance and Marketing as well as for its Research Incubation Programmes. Given below are the scholarships available at IFIM Business School.

S.No.	Name of the Scholarship	Eligibility	Amount
1	Super Scholar	Offered to meritorious students based upon their performance in CAT / GMAT / X / XII / Graduation.	Tuition fee waiver of 75%
2	Scholar		Tuition fee waiver of 50%
3	Academic Excellence		Tuition fee waiver of 30%

Also Read:Documents Required for MBA Admissions

Eligibility Criteria for MBA Scholarship in India

In order to be eligible for most of these scholarships, students may have to apply at their respective colleges. Contact the college’s admissions cell and make sure that you fulfill all the eligibility criteria for MBA scholarships before applying.

How to Apply for MBA Scholarships at Indian B-Schools?

You can visit the official website of the college in order to know more about the scholarships offered by them. You can apply for the scholarship while filling out the application form or during the selection process. Besides this, you will have to submit some of the required documents such as a caste certificate, income certificate, 12th mark sheet, graduation certificate, and passport-sized photograph while applying for MBA scholarships. The college will grant you scholarships only after the verification process.

Candidates should also check out the articles mentioned below to know more about MBA admissions!

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