IIM Indore Scholarships 2024

Students often wonder can I study in IIM Indore for free? Such students should know that IIM Indore extends financial aid to those students who are in need of financial assistance. The IIM Indore scholarship scheme is known as the Need Based Financial Assistance (NBFA). This IIM Indore scholarship is aimed to ensure that no student is deprived of higher education for financial reasons. Moreover, NBFA maintains the required diversity in the IIM Indore classrooms. NBFA is available to all enrolled PGP, PGP-HRM, and IPM students. The last date to apply for the IIM Indore NBFA scholarship is September 15, 2023. 

IIM Indore Scholarship: Need Based Financial Assistance (NBFA)

In addition, IIM Indore offers a merit-based award to a limited number of recipients of the NBFA based on their academic performance to encourage them to excel in their academic pursuits. The value of the award will be equal to the tuition fees for the year.

IIM Indore Scholarship: Fellowship for FPM Students

IIM Indore also provides financial assistance to its FPM students. 

• Currently, IIM Indore FPM students can get a fellowship grant/stipend of Rs 30,000 per month during their course work and Rs 35,000 per month after clearing the area comprehensive examination as per norms. 
• A contingency grant of Rs 25,000 per annum for four years is also provided to FPM students to support the research efforts. This IIM Indore fellowship is subject to the norms of the programme.
• IIM Indore subsidises for presenting papers in national conferences from 2nd year onwards. For national conferences, IIM Indore subsidises expenses subject to a ceiling of Rs 30,000/- per year. 
• For international conferences, the institute provides a subsidy of Rs. 2 lakh with a provision of attending a maximum of two international conferences.

Scholarships are termed as awards of financial aids given to students for their proper education. This is a way to support deserving candidates in completing their studies and achieving their desired career. In general, there are two types of scholarships, one is the merit-based scholarships and the other is the need-based scholarships. The merit-based scholarships are given to the candidates who have performed extremely well in their studies and have a good academic record of accomplishment. Whereas, the need-based scholarships are given to the candidates who are financially deprived and cannot afford to finance their tuition fees for their desired course and degree.
Indian Institute of Management, Indore Scholarships is technically based on the needs of the candidates applying for admission into Post Graduate Programme in Management and Integrated Programme in Management. This IIM Indore scholarship has been termed as need-based Financial Assistance (NBFA). Candidates with annual family income less than 9 lakhs can apply for the IIM Indore scholarship. Candidates seeking financial help are required to fill in the IIM Indore need-based Financial Assistance form in the correct format and procedure as prescribed by the institutional website. Candidates can download the form and fill in their correct details in the blanks given. It is to be submitted at the time of admission by the interested IIM Indore candidates.

Candidates submitting the form must follow and remember few points before submitting the filled form to the concerned authorities. These points are as under:

• Remember to fill in correct details as any wrong information might lead to cancellation of the candidature.
• The application form must be complete and no blanks are to be left vacant by the applicants. Incomplete forms will be subject to rejection from the concerned authorities.
• Read the instructions and information given on the form and follow the same as mentioned.
• Signature of the parents/ guardians and students are necessary.
• Remember that the details mentioned on the form will be crosschecked and verified by the concerned authorities and any fault found will lead to the cancellation of candidature of the candidates.
• It is to know that the final decision will reside in the hands of the NBFA committee and no change will be initiated after the final decision of the committee.