IFMR Chennai Scholarships 2024 - Details, Eligibility, Amount

Merit Scholarship:

Based on the academic performance (CGPA) at IFMR, top performers of the class will be given a merit scholarship on the following scale:

First Rank: Rs.2 Lakhs

Next 3 students: Rs. 1 lakh each

• The above will be distributed during the convocation of the outgoing batch.
• The award is subject to the student’s compliance with discipline, attendance and other rules and regulations of the institute.

• IFMR desires that a meritorious student shall not be denied management education for want of financial ability.

• A few students, though eligible to pursue PGDM at IFMR, may stay away due to their inability to pay the cost due to low income of parents or inability to give collateral security towards the full educational loan amount from a bank. Students who have a family income of less than Rs.6 Lakhs per annum and with no facility to offer collateral for the education loan are likely to fall in this category.

• It is envisaged that a student will be able to arrange for Rs 1.50  lakhs from own sources and take a collateral free loan for Rs 7.50 lakhs to pay the first and second installment fee and I year boarding/lodging costs (Rs. 3 lakhs , Rs 5 lakhs and Rs one lakh respectively). Towards paying the third installment fee and II year boarding/lodging costs (Rs. 4 lakhs  and Rs one lakh respectively), totaling Rs 5 lakhs,  in the second year, it is proposed to provide 50% support by way of a Merit cum Means scholarship at the end of the first year.

• Among these students (who have a family income of less than Rs.6 Lakhs per year and not able to offer a collateral security for the full loan), the top 18 students in terms of CGPA at the end of first year, subject to a minimum CGPA of 3.00 at the end of first year, will be eligible for Merit cum Means Scholarship of Rs. Two lakhs and fifty thousand per person.

• The award is subject to the student’s compliance with discipline, attendance and other rules and regulations of the institute.

• IFMR may require the Merit cum Means Scholarship awardee to help PGDM program office, library or assist in tutorials or work in any other academic related area.  This will be limited to  200 hours of work.

The best outgoing student of the PGDM programme will receive a Hindustan Unilever Limited (HUL) T. Thomas Scholarship award of Rs.1,00,000.