Download the app to find the best colleges for you
Download now

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

Akansha Sirohi
Akansha SirohiUpdated On: August 07, 2023 01:30 pm IST | 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 in India along with the details of each, waiver amount and the eligibility for a candidate.

Scholarships for MBA Students in India

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), 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

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 ScholarshipEligibility CriteriaAmount
1.Merit cum Means ScholarshipOffered 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 ScholarshipOffered to 2 students at the end of their 2nd yearRs.10,000 per student
3.Eiffel ScholarshipsInternational scholarship for France offered to dual-degree program studentsNot Available (NA)
4.DAAD ScholarshipStudents are selected by various business schools in Germany and offered financial aid.NA
5.O. P. Jindal Scholarships2nd-year students are eligible for this scholarshipRs. 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 ScholarshipAmount
1.Merit-based scholarships from Sir Ratan TataFive 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 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

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 ProviderEligibility CriteriaAmount
1.Citigroup4 to 6 Students are shortlisted on the basis of merit.USD 12,500 (approx. Rs. 9 lakhs)
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

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 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

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 ScholarshipEligibility CriteriaAmount
1.SRM Founder’s ScholarshipsTop 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 ScholarshipStudents 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 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 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 ScholarshipEligibility CriteriaAmount
1Merit ScholarshipsScholarships 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
2Domicile Scholarship for IBS Dehradun and IBS JaipurFor 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
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 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 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

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: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!

Related Articles:

MBA Fees in India

Direct Admission in MBA Without Entrance Exam

Best MBA Specializations in India

Distance MBA in India

UP Scholarships Last Date 2023

How to Check Digital Gujarat Scholarship Status 2023?

Best Scholarships for College Students in 2023

SBI Asha Scholarship 2023

For help with admissions and FREE student counselling, fill out our Common Application Form (CAF) or give us a call at 1800-572-9877.


Are 100% scholarships available for MBA courses in India?

Yes, 100% scholarships are available for MBA courses in India. There are many institutes and organizations that offer financial aid to management students who wish to pursue higher education in some of the top B-schools and management institutes in the country. However, it must be noted that candidates have to have an exceptional academic background and an excellent profile to be eligible for scholarships, Typically, 100% scholarships are provided in the form of tuition fee waivers.

What are the eligibility criteria for MBA scholarships in India?

The eligibility criteria for MBA scholarships in India are dependent on a lot of factors. Some scholarships are provided to candidates based on their performance in either MBA entrance exams or scholarship tests conducted by certain management institutes. On the other hand, scholarships are also provided to students who have outstanding academic records and grades, and/or belong to financially disadvantaged groups.

What are some of the top colleges that offer MBA scholarships in India?

There are several colleges and B-schools in India that offer financial aid and scholarships to students who are limited by financial restrictions. Some of the top colleges that offer MBA scholarships in India are:

  • Indian Institutes of Management (IIM-A, IIM-B, IIM-C, IIM-L, IIM-Indore, IIM-Kozhikode, IIM-Shillong)
  • XLRI, Jamshedpur
  • MDI, Gurgaon
  • SPJIMR, Mumbai
  • TAPMI, Manipal
  • SDMIMD, Mysore
  • IRMA Anand, Gujarat

Are scholarships available for online MBA courses in India?

Yes, some candidates can pursue online MBA courses in India by availing financial aid from a number of sources. Online MBA job boards can help students find funding options, such as scholarships. Search using personal criteria. Some scholarships take into account the race, ethnicity, gender, and family history of applicants.

What are the types of scholarships provided to MBA students in India?

Scholarships for MBA students can be of various types depending on numerous factors. Some scholarships are merit-based and take into consideration the academic prowess of candidates. Other scholarships take into account the social and economic background of potential students. There are also scholarships that are provided to employees of reputed organizations, these are also known as sponsorships.

View All Questions

Related Questions

What is fees structure for mcom

-aishwarya dilip naiduUpdated on November 16, 2023 12:31 PM
  • 3 Answers
Aditi Shrivastava, Student / Alumni

Dear student, 

The fee structure for M.Com at the St. Vincent College Of Commerce is not available online. You can keep checking the website for any updates regarding fees for M.Com at the St. Vincent College Of Commerce


Is admission for mcom is still going go at Goenka College of Commerce & Business Administration?

-rupsa dasUpdated on October 23, 2023 11:30 AM
  • 2 Answers
Ashish Aditya, Student / Alumni

Dear student,

The Goenka College of Commerce & Business Administration does offer admission to M.Com courses. Admission to M.Com at Goenka College of Commerce & Business Administration for 2023 has been concluded. According to the latest circular at Goenka College of Commerce & Business Administration, M.Com document verification was completed on October 05, 2023. Therefore, there is no possibility of admission in this session. You can keep an eye on our website for admission related information.

Feel free to ask more questions here if you have any. Thank you.


Fees in management students for mba at KLE Technological University

-sidduUpdated on October 23, 2023 11:25 AM
  • 2 Answers
Rajeshwari De, Student / Alumni

There is a Master of Business Administration (MBA) programme offered at KLE Technological University. The curriculum is created to give students the knowledge and abilities they need to succeed in the corporate world. Accounting, finance, marketing, operations management, and human resources are just a few of the many topics covered in the programme. The duration of MBA course is two years. The program's core courses are offered in the first year, and elective and specialisation courses are offered in the second year. One of the following streams, including finance, marketing, human resources, operations management, and information technology, is available for …


Do you have a question? Ask us.

  • Typical response between 24-48 hours

  • Get personalized response

  • Free of Cost

  • Access to community

Recent Articles

Recent News

Subscribe to CollegeDekho News

By proceeding ahead you expressly agree to the CollegeDekho terms of use and privacy policy
Apply Now

Top 10 Management Colleges in India

View All