MBA Scholarships Offered by IIMs in India: Know the Selection and Awarded Amount

MBA Scholarships Offered by IIMs in India: Pursuing a career in management can make the life of a person. But at what cost? It is a widely known fact that management courses are quite expensive. And in such a situation, scoring an MBA scholarship would be like a cherry on top. Hence, these IIMs have carefully drafted these scholarships in consideration of all facts. Candidates who wish to get an MBA scholarship should make efforts to get one.

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Types of MBA Scholarships in India Offered by IIMs

Every year in the months of July and August, immediately after the completion of the MBA admission process, candidates can apply for the MBA scholarship. Paying the tuition fees of an IIM can be quite heavy on the pocket. A scholarship can solve most of the major issues. Usually, scholarships are based on entrance tests or past academic grades. However, candidates with low family income, belonging to minorities, socially and economically backward, especially-abled may also get MBA Scholarships.

Scholarships offered by IIMs can be segregated into two types:

Need-based Scholarships: The family income of the students determines the scholarship amounts. Only those students who belong to financially weaker backgrounds are offered this scholarship.

Merit-based Scholarships: Candidates securing high scores in the CAT exam and performing exceptionally well in the entrance exams conducted by IIMs are offered these scholarships.

Here are the IIMs that provide MBA scholarships and their eligibility criteria.

MBA Scholarships Offered by IIMs in India: Eligibility Criteria

The eligibility criteria for availing MBA scholarships offered by IIMs in India have been mentioned below.

• Results of the written examination conducted by the MBA college
• Results of the GD/PI interviews conducted as part of the job application process
• The recipients of scholarships awarded based on merit and state rankings
• Employment history
• Those who have represented their country at the national level in sports are eligible for the Sports Scholarship.
• Academic accomplishments of the MBA College during the current academic session, including its top students
• Physically challenged, SC, or ST candidates are eligible for the scholarship.

The Financial Aid Committee uses a two-step approach to determine the amount and number of awardees. In the first stage, students are assigned a financial status score based on four factors: annual gross household income (which includes the student's income if they were employed before enrolling in IIMB and any outstanding loans, if any), household savings, real estate assets, and other assets. Some of the students are summoned for a face-to-face meeting with a faculty panel based on this score. During these discussions, faculty panels assess the student's financial need, determine the authenticity of the information provided by the applicant, and provide a financial need score. 

MBA Scholarships at IIM Ahmedabad

Indian Institute of Management, Ahmedabad offers scholarships based on various factors. It strongly believes that all candidates should have equal opportunities for education, and no one should be deprived of it due to financial problems. IIM Ahmedabad offers multiple scholarships apart from government scholarships for its students.

Name of the Scholarship	Criteria	Amount
Aditya Birla Scholarship	Candidates must have an annual household income below INR 8,00,000. Candidates belonging top 25% of the batch in the first year can renew this scholarship in the second year.	Rs. 1.75 lakh
OPJEMS Scholarship	It is a merit-based scholarship provided to PGP students of second year. Only the first 10 toppers of the second year are eligible to apply on the basis of the academic performance in the first year. One student of each academic year will be awarded this scholarship on the basis of an online test conducted by OP Jindal Group.	INR 1.50 lakh
IIM Ahmedabad Special Needs Scholarship	Only for Post Graduate students.  The family income of the candidate must be less than Rs. 15 Lakh per annum.  The scholarship amount will be determined based on various factors: total family income, assets and ownership, and the number of dependents.	-
PGP Alumni Endowment Funds	For students from socially and economically background classes.  On the basis of the need, the scholarship is provided to the candidate. Students from Nine PGP 1 & PGP/FABM II are eligible for the scholarship.	Rs. 2 Lakh -Rs. 3 Lakh.
Shri GC Mital Entrepreneurship Aid	Candidates who skip the college placements and start their own business will be eligible.  Only one candidate from PGP/PGP-FABM graduating will get this scholarship. Additionally, the student should have an education loan of a minimum of Rs. 1 lakh and a total family income of Rs. 8 lakh.  The scholarship will be awarded on the basis of the business plan they submit.	Rs. 2 Lakh
Dunia Scholarships for scholastic excellence	Merit-based scholarship for 2 PGP Students, one from each year.  The scholarship is provided by Dunia Finance LLC, Dubai, UAE.	Rs. 1 Lakh
T. Thomas Scholarship	Only one second-year student will be awarded. The criteria would be merit-cum-means. This is awarded by the Hindustan Unilever Ltd.	Rs. 1 Lakh

MBA Scholarships at IIM Bangalore

Another prestigious IIMs campus that offers a range of MBA Scholarships is IIM Bangalore. IIM Bangalore provides Financial Aid to all Post Graduate candidates with low household income. Further, it also provides a range of scholarships.

Name of the Scholarship	Criteria	Amount
IIM Financial Aid	The family income must be less than Rs. 8 Lakh per annum.  Candidates experiencing financial distress may apply.
The Citi Women's Leader Award	Merit-based scholarship. Students from the top 25% of the class will be awarded from the first year. Only second years students are eligible.  On the basis of statement of purpose and interviews the scholarships will be awarded.	The entire tuition fees of the second year will be covered.
Societe Generale Global Solution Centre India Scholarship	Merit-based scholarship. Only second years students are eligible.  On the basis of interviews the scholarships will be awarded.	The entire tuition fees of the second year will be covered.
IIMB PGP Alumni First Batch (1976) Scholarship	Female candidate with financial needs is the first preference, if not any, male candidates are considered. Apart from the amount, a medallion and certificate are also awarded to the candidate.	Rs 75,000 stipend
Runwal Education Trust Scholarship	Based on academic performance one PGP student is awarded. First year's performance is the main selection ground.	Rs. 1 Lakh
Yes Bank Scholarship	Top 20 students on the basis of admissions.  Based on CGPA score. Candidates must be a member of at least one student committee.	Rs. 2 Lakh
Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD)	The candidate must be 40% disability.  Certificate of disability issued by competent medical authority.	Rs. 2,55,000 per year.

MBA Scholarships at IIM Lucknow

Also, IIM Lucknow provides various scholarships and financial aids to its students. Candidates must make use of these scholarships to get financial assistance.

Name of the Scholarship	Criteria	Amount
Need-based IIML Scholarships	Merit-based scholarship.  The family income of the candidate must be less than Rs. 4 Lakh per annum.	Tuition Fees of the particular academic year.
Amrit Kala Dayal Scholarship	Only for a female candidate on the basis of CGPA. The family income of the candidate will be taken into consideration.	Rs. 75,000.
Bharti Scholarship	Bharti Enterprises provides scholarships to deserving and in need candidates.  The total family income should not exceed Rs 1,08,000. The scholarship is applicable for the entire education period of the PGP.	Rs. 50,000
The Government of India Merit-cum-Means scholarships	Merit-based. Maximum of 25% of the candidates are awarded.  Special criteria and means are to be fulfilled.	Rs 2,200 per year

MBA Scholarships at IIM Kozhikode

Similarly, students taking admissions in IIM Kozhikode may also apply for MBA scholarships. This institute also provides scholarships based on previous year’s performance. Also, students from low-income backgrounds can apply for the scholarship.

Name of the Scholarship	Criteria	Amount
Sir Ratan Tata Trust Scholarship	Available for second year students. Candidates must score in the top 10% of the class. Maximum of 5 students is awarded. They should not be awarded any other scholarship or financial aid.	Rs. 1 Lakh.
Societe Generale Global Solution Centre India Scholarship	Awarded to the lowest income bracket. Selection is based on a write-up by the candidate about themselves.	Complete Expense of the Candidate.

MBA Scholarships at IIM Indore

IIM Indore offers MBA Scholarships as financial aid. Interested candidates can take a look at the criteria for applying for the scholarship.

Name of the Scholarship	Criteria	Amount
Need-based Financial Assistance (NBFA)	Only for students from HR Management and Management Programmes and Integrated Programme in Management (IPM).  The family income of the candidate must be less than Rs. 9 Lakh per annum.  The committee evaluates and calls for interviews of the shortlisted candidates for the scholarship.	-

MBA Scholarships at IIM Calcutta

IIM Calcutta offers the following scholarships to meritorious candidates:

Sponsored Sponsorships	Aditya Birla Group Scholarships Tata Education Trust Scholarship T. Thomas Scholarship OP Jindal Engineering & Management Scholarship NTPC Scholarship National Means Cum Merit Scholarship Scholarships for Top Class Education for students with disabilities Top Class Education for Scheduled Tribe Students
Institute scholarships	TIL Scholarship India Carbon Scholarship B.P. Poddar Scholarship Aditya Kashyap Memorial Scholarship (for 1st rank holder) P. R. Karthik Scholarship Aditya Kashyap Memorial Scholarship (for achieving highest CGPA in Compulsory & Elective Courses)

Top B-Schools offer a range of scholarships to provide assistance to all its candidates. Hence, candidates must take a look and grab these opportunities. Additionally, many industries, as well as corporations, also provide scholarships to students. You will simply have to know how to apply for them. OP Jindal Engineering and Management Scholarships and Aditya Birla Group Scholarships are available at many universities, IIMs, top-ranking B-Schools, and institutes.

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