Scholarships for MBA Students In India 2020 : Check Eligibility, How to Apply, Colleges Offer Scholarships

Akansha Sirohi
Akansha SirohiPublished On: August 15, 2020 | CAT

MBA education is an expensive affair when it comes to pursuing it from a top college. For such cases, here is a list of top 8 colleges that offer MBA scholarships along with the details of each, waiver amount and the eligibility for a candidate.

Scholarships for MBA Students in India

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. 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 programme. Check out scholarships offered by some of the top business schools in India along with their eligibility, application process.

Table of Contents

MBA Scholarships in India

Top 8 Colleges Offering MBA Scholarships in India

Management Development Institute, Gurgaon

Institute of Rural Management, Anand

Indian School of Business, Hyderabad

Amity Business School, Noida

SRM School of Management, Chennai

ICFAI Business School

MICA, Ahmedabad

IFIM Business School

How To Apply For MBA Scholarship

MBA Scholarships in India

The scholarship is one of the most important factors considered by students while selecting an MBA college. Almost every college in the list of top MBA colleges in India offers scholarships so that the students can complete their education without facing financial issues. Some of the colleges also offer scholarships who have participated in a 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), GurgaonInstitute of Rural Management (IRMA), Anand
Indian School of Business (ISB), HyderabadAmity Business School, Noida
SRM School of Management, ChennaiICFAI Business School
IFIM Business SchoolMICA, Ahmedabad

Management Development Institute, Gurgaon

NIRF 2019 Ranking: 12

MDI is an AICTE-accredited institute that is counted among the top B-schools in India. Apart from being 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 programmes are available at MDI.

S.No.Name of the ScholarshipEligibility CriteriaAmount
1.Merit-based ScholarshipOffered to 5 students at the end of their 2nd yearRs.10,000 per student
2.Eiffel ScholarshipsInternational scholarship for France offered to dual-degree programme studentsNot Available (NA)
3.DAAD ScholarshipStudents are selected by various business schools in Germany and offered financial aid.NA
4.O. P. Jindal Scholarships2nd-year students are eligible for this scholarshipRs. 1,50,000

Also Read:MBA in International Business vs MBA in Marketing

Institute of Rural Management, Anand

NIRF 2019 Ranking: 51

IRMA is a one-of-its-kind management school in India, established with the motive of training rural development organisations 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 programmes in India. MBA students can take advantage of the following scholarships offered by IRMA:

S.No.Name of the ScholarshipAmount
1.Merit-based scholarships from Sir Ratan TataFive students are shortlisted 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 Candidates15 students belonging to SC/ST category are offered scholarships that cover their entire cost of education.
3.GOI scholarships to IRMA for SC/ST students10 students are provided with this scholarship.
4.Scholarships from the Ministry of Tribal Affairs5 ST candidates are shortlisted for this scholarship.
5.National Dairy Development Board ScholarshipsStudents belonging to SC/ST category are selected for this scholarship.

Indian School of Business, Hyderabad

NIRF 2019 Ranking: N/A

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

S.No.Name of the ProviderEligibility CriteriaAmount
1.Citigroup4 to 6 Students are shortlisted on the basis of merit.USD 12,500 (approx. Rs. 9 lakh)
2.NovartisSelection of 3 students is done on both merit and need basis.Rs. 4,00,000
3.Nurture IndiaSelection is done on the basis of their needRs. 4,00,000
4.Manhattan Review scholarships5 students are shortlisted on the basis of academic excellence.Rs. 1,00,000
5.Jamboree India-Talent Promotion Award5 students are selected on the basis of both need and meritRs. 1,00,000
6.ISB@10 Global Scholarship10 international students are selected for this scholarship on the basis of meritVaries from Rs. 3,00,000 to Rs.15,00,000

Also Read:Get a Good Score in CAT & Stand a Chance to Avail Scholarships in IIM!

Amity Business School, Noida

NIRF 2019 Ranking: 49

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 organisations because of its commitment towards 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 ScholarshipEligibility Criteria
1.100% ScholarshipCandidates 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% ScholarshipCandidates must have at least 88% aggregate marks in Class 12 and 75% marks in their graduation.

SRM School of Management, Chennai

NIRF 2019 Ranking: N/A

SRM School of Management is a renowned institution for management education offering BBA, MBA, PhD and MMS programmes in fields such as Finance, Operations, Data Analytics etc. Its programmes 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 ScholarshipEligibility CriteriaAmount
1.SRM Founder’s ScholarshipsTop state rankers in final school exams, SRMEE and exceptional sportspersons at the national and international level are eligible to apply.Full fee waiver along with a stipend of Rs. 1,000 per month.
2.Merit ScholarshipStudents who secured 95% and above in CBSE board exams and secured a rank amongst top 8000 in SRMEEE can apply.50% tuition fee waiver
3.Merit-Cum-Means ScholarshipStudents 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 communitiesStudents 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-abledStudents with physical disabilities or differently-abled students can apply.Full tuition fee waiver
6.Scholarship for Special MeritsStudents are shortlisted on the basis of exceptional literary debating, fine arts and others such skills.Tuition fee waiver of up to 100%

Also Read:Scholarship Opportunities at Various MBA Colleges in India

ICFAI Business School

NIRF 2019 Ranking: 26

ICFAI Business School is one of of the best colleges for 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 ScholarshipEligibility CriteriaAmount
1Merit ScholarshipsScholarships are distributed to students based on their GPAs in the 1st, 2nd and 3rd Semester of study. Scholarship amount varies according to the marks scored by the candidate.Tuition fee waiver ranging from Rs. 20,000 - Rs. 50,000 per sem
2Domicile Scholarship for IBS Dehradun and IBS JaipurFor students belonging to the states of Uttarakhand and Rajasthan. Domicile certificate required.Programme fee concession of Rs. 50,000 is adjusted in a total of 5 instalments
3Past Academic Record Scholarship for IBS Dehradun and IBS JaipurFor 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 instalments of tuition fee

MICA, Ahmedabad

NIRF 2019 Ranking: NA

MICA is a unique business school specialization in marketing and communications. The institute is a popular choice of 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 ScholarshipEligibilityAmount
1MICA ScholarshipStudents with an excellent academic record and family income not exceeding Rs. 8 LPAUp to 25% of the annual tuition fee amount

IFIM Business School

NIRF 2019 Ranking: NA

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 ScholarshipEligibilityAmount
1Super ScholarOffered to meritorious students based upon their performance in CAT / GMAT / X / XII / Graduation.Tuition fee waiver of 75%
2ScholarTuition fee waiver of 50%
3Academic ExcellenceTuition fee waiver of 30%

Also Read:Distance MBA vs Regular MBA vs Online MBA

Eligibility Criteria for MBA Scholarship

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 fulfil all the eligibility criteria for MBA scholarships before applying.

How To Apply For MBA Scholarship

You can visit the official website of the college in order to know more about the scholarships offered by them. You can apply to the scholarship while filling the application form or during the selection process. Besides this, you will have to submit some of the required documents such as 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.

If you have any doubts, ask our experts on the CollegeDekho QnA Zone. For help with admissions and FREE student counselling, fill our Common Application Form (CAF) or give us a call at 1800-572-9877.

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