The 1000+ MBA scholarships, offered by the MBA colleges in India not only reduce the burden of MBA Fee which runs as high as Rs.10 to 25 lakhs, it turns out to be good support during your MBA course. Since your dream of doing MBA from one of the top MBA colleges requires lot of money during the course of study, the MBA scholarship offers fee waiver to the tune of 10 to 50 percent depending upon your performance in entrance exam, academics, category and skill set.
After getting MBA admission offer from your dream B-school, you need to think of MBA fee that runs in the range of Rs.17 to 30+ lakhs in IIMs, ISB, SPJIMR, MDI, XLRI and other top B-schools and can put a big hole in your pocket. To reduce the financial burden on different category of students, top MBA colleges offer number of MBA scholarships to its students in first and second year of MBA course. Schemes of special scholarship for Indian girls and women are also offeredto improve gender diversity in the management institute.
This article by MBAUniverse.com will help you understand all about MBA Scholarships offered by top B-Schools in India.
Types of Top MBA Scholarships in India
MBA scholarships offered by top B-Schools in India are Institute based, Corporate sponsored or are Government sponsored. The criterion – how to get scholarship for MBA is different for each category as the B-schools offer MBA scholarship to their students who meet academic & overall performance and family financial background. Broadly, there are four types of MBA scholarships in India 2020 offered to MBA students in 1st and 2nd year of the course.
Top MBA Scholarships in India include:
- Institute Based MBA Scholarships in India: Offered by most of the MBA colleges like IIMs, XLRI, MDI, SPJIMR, TAPMI
- Corporate Sponsored MBA Scholarship: Like Aditya Birla Scholarship for MBA in IIM and other top B-schools; O P Jindal Scholarship, Alumni Sponsored MBA Scholarship
- Government Sponsored MBA Scholarship: This MBA scholarship is offered in IIMs, IITs and other Government management colleges
- Banks’ Sponsored MBA Scholarship: Offered by PNB Housing Finance, IDFC among others
Before we discuss these different types of scholarships in detail, let’s know about the MBA Scholarships offered by top B-Schools in India
COLLEGES OFFERING MBA SCHOLARSHIPS IN INDIA
MBA Scholarships in India 2020 are offered both to Indian as well as International students subject to the fulfilment of eligibility criteria. Here, we will discuss and share the list of MBA Scholarships for Indian Students.
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Scholarship for MBA in IIM
IIM Ahmedabad: MBA Scholarship
IIM Ahmedabad has instituted a number of scholarships to the PGP and PGP-FABM students which include Need-Based Scholarship Scheme; scholarships offered by Government of India, by Industry and Corporate Sector, by IIM-A Alumni, Scholarships for Entrepreneurship, Scholarships for reserved category and minority students among others.
|
Name of Scholarship Scheme |
How To Get Scholarship for MBA In IIM Ahmedabad? Eligibility Criteria |
Amount of Scholarship |
|
Need-based scholarship Scheme |
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IIM-A shall determine the financial assistance required for each applicant based on its assessment of the applicant’s economic status |
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IIMA Exit Scholarships |
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Monthly stipend of Rs.30,000/- for three consecutive years to two students from every batch |
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Scholarships to Join “Not-for-Profit” Organizations |
students who graduate from IIMA and join “Not-for-Profit” organization to encourage students to opt for jobs in NGOs Two students from every batch are given financial assistance for three consecutive years |
Ranges between Rs.3 to 4 lakhs per year per student
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Assistance ships for students
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Rs.3 to 4 lakhs per year per student
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IIM-A Alumni Scholarships
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Financial support is extended to 9 PGP 1 & PGP/FABM II students from economically and socially challenged background, based on their financial status, every year Beneficiary students should contribute in future (within and not later than 5 to 7 years after passing out from the Institute Financial assistance is given only to those students, who consent to contribute |
Rs. 2 to 3 lakhs |
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Peri Viswanath Scholarship: Instituted from the batch 2013-15 by the batch-mates of Mr. Peri Viswanath, who died in a road accident
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Rs.2 lakhs per year. The Student will get Rs.4 lakhs over 2 years |
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Shri GC Mital Entrepreneurship Aid: A sum of The eligibility criteria shall be as follows: The aid amount would be given to the student on the day of convocation. This Aid has been implemented from the batch of 2012. |
To one graduating student of PGP/PGP-FABM, who intends to start own venture Must opt out of the IIMA placement process Scholarship limited to students with educational loan of a minimum Rs.100,000 and those with a combined family income below Rs.800,000 per annum selection shall be done on the basis of a business plan submitted by the applicant |
Rs.2 Lakhs per Year |
|
Family Income Linked Tuition Fee Waiver Scheme |
Students whose total family income is less than Rs. 6 lakh in the previous financial year. |
NA |
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SC/ST Scholarships |
Only SC/ST category students having valid certificates can apply for this scholarship. |
Rs.150 per month for 10 months |
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GOI Merit-cum-Means Scholarships |
At least 25% students belonging to the non-sponsored student body from both first and second year are awarded this scholarship. |
Rs.2,200 per year |
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Aditya Birla Group Scholarships |
Candidates are shortlisted by ABG on the basis of merit. Around six students are shortlisted. |
Rs.1.75 lakh per student per annum |
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OP Jindal Engineering and Management Scholars |
Two students are shortlisted for this scholarship based on the academic performance of the students and an online test along with a personal interview. |
Rs.1.50 lakh to one/two second year students |
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Dunia Scholarships for scholastic excellence |
Two students are shortlisted for this scholarship on the basis of merit in PGP-1/II |
Rs.100,000 per student |
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ONGC SC/ST Merit-cum-Means Scholarships |
Few of the SC/ST students are shortlisted for this scholarship. |
NA |
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State Scholarship |
State Governments sometimes fund the education of some of the best students from those states. |
NA |
IIM Bangalore MBA Scholarships
IIM Bangalore extends financial aid to students in need of financial assistance. All PGP students with annual household income below INR 6,00,000 are eligible to apply for financial aid. Other students with severe financial difficulties arising from sudden unforeseen circumstances are also considered.
|
Scholarship Name |
How To Get Scholarship For MBA In IIM Bangalore? Eligibility Criteria |
Amount |
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Aditya Birla Scholarship |
Few students from both first and second year are shortlisted who belong to the top 25% students of their respective batches in terms of performance. |
Rs.175,000 per student |
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Citi Women’s Leader Award |
This is a merit scholarship for Girls For MBA. Candidates are selected from the top 25% of the batch at the end of the first year. Nomination is done by the institute and the students are selected on the basis of their Statement of Purpose and subsequent interviews scheduled by Citi Group |
Covers the second year’s tuition expenses |
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Siddhartha Padam Award |
This scholarship is awarded to a PGP student who is on the Director’s Merit List and gets the highest CGPA in the Economics, Finance & Accounting core courses in the first year. |
Cash prize of Rs 50,000, a medallion and a certificate |
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T Thomas Scholarship |
A second-year student is shortlisted for this scholarship based on merit. |
Rs.100,000 |
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OPJEMS Scholarship |
Two students are shortlisted for this scholarship one each from first and second year. |
Rs.150,000 per student |
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Rajesh Kaushik Memorial Scholarship |
Selection is strictly merit based. |
Rs.150,000 per annum |
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Ocwen Financial Solutions Private Limited |
One of the students is shortlisted on the basis of research paper submitted by the students. |
Rs.180,000 |
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Cognizant Technology Solutions - B’izard Scholar |
Three students are shortlisted on the basis of academic excellence, leadership qualities and willingness to serve the community and study further in the same field. |
Winner: Rs.3 lakhs, 1st Runner-up: Rs.2 lakhs and 2nd Runner-up: Rs.3 lakhs |
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Societe Generale Global Solution Centre India Scholarship |
Students in need are nominated by the institute and are shortlisted on the basis of interviews. |
Full tuition fee waiver |
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IIMB PGP Alumni First Batch (1976) Scholarship |
This is scholarship for Indian Girls and Women and is given to a differently-abled woman student from PGP. The scholarship aims to assist a differently-abled female student (or a differently-abled male student, if there is no eligible female student). It keeps alive the memory of the PGP batch of 1976 and their association with the institute. |
Rs. 75000, a medallion and a certificate |
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Runwal Education Trust Scholarship |
This scholarship is given to a PGP student based on a combination of academic performance in the 1st year and the student’s financial need. |
Rs. 100,000; a medallion and a certificate |
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Yes Bank Scholarship |
Open to students who are among the top 20 students as per the admission criteria, belong to the top 20% of the batch based on the current CGPA and are members of at least one student committee |
Rs.200,000 |
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NTPC Scholarship Scheme |
Students who belong to SC/ST/PwD categories and are in their second year of management studies, having passed the first-year examination in one attempt, are eligible for the scholarship |
Rs.48,000 per annum |
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Employment in Social Sector Scholarship |
This scholarship reimburses the recipient one-third of the fees at the end of each year of work for the first three years in the social sector |
Depending upon the amount spent |
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Ministry of Tribal Affairs Scholarship (ST) |
The Ministry of Tribal affairs, Government of India invites applications for the National Scholarship for Higher Education for Scheduled Tribe students of PGP first year |
Means scholarship that covers tuition expenses in full |
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Ministry of Social Justice and Empowerment Scholarship (SC) |
The Ministry of Social Justice and Empowerment Government of India invites applications for the National Scholarship for Higher Education for Scheduled Caste students from Meritorious SC students PGP first year |
Means scholarship that covers tuition expenses in full
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Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD) |
A person with disability having not less than 40% disability and having a disability certificate issued by any competent medical authority.
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Rs. 2,55,000 per year
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Apart from above scholarships, students can also apply for other State Government Scholarships routed, through financial aid and scholarship office.
IIM Calcutta: MBA Scholarship Scheme
MBA scholarships sponsored by different companies like Aditya Birla Group, Ratan Tata Trust, T. Thomas Scholarship sponsored by HUL, OP Jindal Engineering & Management Scholarship are available for the deserving students on the basis of merit and various criteria stipulated by the Sponsors. NTPC awards merit scholarships for deserving SC/ST/students with disabilities based on the MBA-I result. Government of India also sponsors Merit cum Means Scholarship for SC/ST students based on their performance at the time of admissions.
There are a number of prizes/awards sponsored by IIM Calcutta and various organizations for meritorious students on the basis of their first and second year results. Some prizes are also awarded to students at the Annual Convocation for certain outstanding extracurricular activities on the recommendation of the Institute’s Students’ Council. IIM Calcutta has not disclosed the eligibility criteria and amount of scholarships:
MBA First Year Scholarships
- B.P. Poddar Scholarship
- India Carbon Scholarship
- T. T. Krishnamachari Award
- BPL Prize
- Damodar Valley Corporation Award For Creditable Performance
- Central Bank of India Prize For Best Performance In Finance Course
- Aditya Kashyap Memorial Scholarship (for 1st rank holder)
- P. R. Karthik Scholarship
MBA Second Year Scholarships
Sponsored by the Institute
- Dr. B. C. Roy Memorial Gold & Silver Medals
- Chairman's Prize
- John Wynne Prize
Sponsored by outside Organizations
- ABC India Award
- Balmer Lawrie Award
- Calcutta Management Association Trophy
- Calcutta Port Trust India Award
- B. S. Dua Memorial Prize for 2nd Rank holder
- Magunta Subbarama Reddy Award
- TIL Scholarship
- IIMC Alumni Association, Calcutta Chapter Prize
- IIMC Alumni Association, Calcutta Chapter Award for outstanding Academic Performance in PGDM by
- Taylor & Francis Book Prize
- Bengal Chamber of commerce Medal in the area of Human Resource Management
- Late Sumantra Ghoshal Award for Academic Excellence for receiving highest CGPA at the end of the two-year Post Graduate Programme
- Aditya Kashyap Memorial Scholarship for receiving highest CGPA in Compulsory & Elective Courses
- 100% Grant to training institutions for skill training to handicapped persons with a stipend of Rs.2000 per person per month
IIM Lucknow: MBA Scholarship Scheme
List of MBA Scholarships for Indian Students at IIM Lucknow covers meritorious as well as low icome group students.
|
Scholarship Name |
Eligibility |
Amount |
|
Need-Based IIML Scholarships |
15% students from a batch are offered scholarships on the basis of family income and previous academic performance. Students having a family income less than Rs.150,000 can apply. |
NA |
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Industry Sponsored Scholarships |
Students are shortlisted from every year based on their academic performance |
Varies from Rs.6,000 to Rs.100,000 p.a. |
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Merit-cum-Means Scholarships |
25% of the students subject to specified norms are shortlisted for this scholarship |
Rs.2200 per student p.a. |
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Bharti Scholarship |
Students whose annual income is less than Rs.1.08 lacks from both first and second year are eligible to apply. |
Rs.50,000 p.a. |
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SC/ST Scholarships |
All SC/ST students are eligible to apply |
Rs.1500 p.a. |
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Other Scholarships |
Students are shortlisted based on family income. Their fees and maintenance charges are covered by the government of the state to which the candidate belongs. |
NA |
XLRI Jamshedpur: MBA Scholarship
XLRI offers variety of scholarships to its meritorious PGDM students:
|
Scholarship Name |
Eligibility |
Amount |
|
Aditya Birla Scholarship |
3 scholarships to PGDM-BM and PGDM-HRM Students as per merit and selection criteria |
Rs.175,000 per annum to each student |
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Pirojsha Godrej Scholarship |
1 scholarship to PGDM-BM and PGDM-HRM student on the merit cum need basis |
Rs.25,000 |
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XLRI Diamond Jubilee (Juniors) |
2 Scholarships to 1st year PGDM-BM and PGDM-HRM students based on Merit-cum-need |
Upto Rs.255,000 each for 1st year tuition fee |
SPJIMR Mumbai: MBA Scholarship Scheme
SPJIMR Mumbai offers special scholarship to meritorious and deserving candidates. SPJIMR proposes to support participants through academic scholarships. Since Academic scholarships are limited, they are extended to needy and meritorious participants.
How to get Scholarship for MBA at SPJIMR?
To apply for a scholarship, Candidates are required to send in a scholarship request letter along with application form stating credentials and reasons for applying clearly. Based on Institute criteria, the Admission Committee will decide on the percentage of reduction in the program fee.
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MDI Gurgaon: MBA Scholarship
MDI Gurgaon offers a wide range of scholarships to its PGDM students:
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Scholarship Name |
Eligibility |
Amount |
|
Merit-based Scholarship |
5 students are shortlisted at the end of the second year |
Rs.10,000 per student |
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Eiffel Scholarships |
Students opting for dual degree program are selected for this International Scholarships for France |
NA |
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DAAD Scholarship |
Students are selected by various business schools in Germany and offered financial aid. |
NA |
ISB Hyderabad: MBA Scholarship
ISB Hyderabad, the pioneer in one year MBA education offers a range of MBA scholarships to its Indian and international students
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Scholarship Name |
Eligibility |
Amount |
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Citigroup |
4 to 6 Students are shortlisted on the basis of merit. |
USD 12,500 |
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Novartis |
Selection of 3 students is done on both merit and need basis. |
Rs.400,000 |
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Nurture India |
Selection is done on the basis of their need |
Rs.400,000 |
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Manhattan Review scholarships |
5 students are shortlisted on the basis of academic excellence. |
Rs.100,000 |
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Jamboree India-Talent Promotion Award |
5 students are selected on the basis of both need and merit |
Rs.100,000 |
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ISB@10 Global Scholarship |
10 international students are selected for this scholarship on the basis of merit |
Varies from Rs.300,000 to Rs.1,500,000 |
IIM Indore: MBA Scholarship
IIM Indore extends financial aid to the participants in need of financial assistance. The objective of the Need Based Financial Assistance (NBFA) at IIM Indore is to ensure that no participant is deprived of education at the institute for financial reasons.
|
Scholarship Name |
Eligibility |
Amount |
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Need Based Financial Assistance (NBFA) |
All participants admitted to the Post-Graduate Programme in Management (PGP), PGP HRM (PGPH) and Integrated Programme in Management (IPM) with annual family income below INR 9, 00,000 are eligible to apply for financial aid |
Determined from case to case basis |
IIM Kozhikode: MBA Scholarship
IIM Kozhikode provides Merit, Corporate sponsored, need based and Government scholarships to its students.
- IIM Kozhikode merit scholarships are awarded by the institute to first and second year students on the basis of their performance during an academic year, as determined by their CGPA.
- IIM Kozhikode Need Based scholarship is provided to all eligible candidates during the 1st and 2nd year of the program.
- Government of India scholarship for SC and ST students; and Merit cum Means Scholarships for students belonging to minority communities are also awarded.
- MBA scholarships/awards are also offered by benefactors like NTPC, Sir Ratan Tata Trust, Aditya Birla Group, OPJEMS, Rajashree Sahu Maharaj Scholarship, and Pratibha Scholarship
IIM Shillong: MBA Scholarship
IIM Shillong endeavors that no candidate be denied opportunity to pursue the Post Graduate Programme for want of adequate financial resources. Keeping this in mind, IIM Shillong has provision for various scholarships and financial assistance.
- Need Based Financial Assistance Scheme to help economically weak MBA participants. The number of scholarship awardees and quantum of assistance is decided on the basis of annual gross family income, participants liquidity, credit worthiness and her/his overall suitability for the same.
- Scholarships are also made available to Scheduled Caste (SC)/ Scheduled Tribe (ST)/People with Disabilities (PWD) participants by Government of India
IIM Tiruchirappalli: MBA Scholarship
IIM Trichy provides Merit-cum-Means, and Government sponsored scholarships to its students.
- IIM Trichy provides Merit cum Means Scholarships for students belonging to minority communities
- Government of India scholarship for SC and ST students are also awarded.
- Central Sector Scheme of Scholarship for Top Class Education for Students with Disabilities
IRMA Anand: MBA Scholarship
IRMA, a pioneer institute which offers a dedicated management course in rural management, offers following scholarships to PGDRM and PGDM students
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Scholarship Name |
Scholarship amount details |
|
Merit-based scholarships from Sir Ratan Tata |
Five 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 |
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Scholarships for SC/ST Candidates |
15 students belonging to SC/ST category are offered scholarships that cover their entire cost of education. |
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GOI scholarships to IRMA for SC/ST students |
10 students are provided with this scholarship. |
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Scholarships from the Ministry of Tribal Affairs |
5 ST candidates are shortlisted for this scholarship. |
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National Dairy Development Board Scholarships |
Students belonging to SC/ST category are selected for this scholarship. |
TAPMI Manipal: MBA Scholarship
50 scholarships to the tune of Rs.2.5 crores are offered by TAPMI Manipal, to the different categories of the students including the candidates who have scored 90+ percentile in CAT/XAT; who have low family income and to the top ten performers in the batch.
TAPMI offers Dr Ramdas Pai Merit Scholarships to 40 students. 30 Scholarships are offered to the students who have scored high percentile in CAT and XAT exams and 10 scholarships are offered to the students with low family income. This reduces the tuition fee burden by 30 to 50 percent. Another scholarship –Dean’s Roll of Honour, is offered to 10 toppers in the batch. Details of various scholarships and the amount offered, are shared below:
|
Name of Scholarship |
No. of Students |
Eligibility Criteria |
Fee Waiver under the Scholarship |
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Dr. Ramdas Pai Merit Scholarship – Category I |
20 |
95 percentile and above in CAT / XAT; 730 and above in GMAT |
30% of total tuition fee |
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Dr. Ramdas Pai Merit Scholarship – Category II |
10 |
90 percentile and above in CAT / XAT &; gross family income (before tax) below rupees ten lakh. |
30% of total tuition fee |
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Dr. Ramdas Pai Merit Scholarship – Category III |
10 |
88 percentile and above in CAT / XAT &; family gross income (before tax) below rupees eight lakh. |
30% of total tuition fee |
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Dr. Ramdas Pai Merit Scholarship – Category IV |
10 |
Family Gross Income (before tax) below rupees seven lakh; No CAT / XAT score criteria |
30% of total tuition fee |
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Total Scholarships |
50 |
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| Dean’s Roll of Honour | |||
| Dean’s Roll of Honour | 10 | Top 10 performers of the batch | Rs.2 Lakhs each |
SDMIMD Mysore: MBA Scholarship Schemes
SDMIMD has introduced several scholarship schemes for aspiring students of the PGDM program.
- Entry Merit Scholarship: Rs. 60,000 for finally selected applicants with minimum 70% each in – 10th Standard; 12th Standard / PUC 2; and Degree.
- Empowering Woman: Rs. 50,000 scholarship for finally selected woman applicants with minimum 60% aggregate each in – 10th Standard; 12th Standard / PUC 2; and Degree.
- Student Exchange Subsidy: Students selected for student exchange programs abroad during the SDMIMD PGDM program are entitled to a subsidy ranging from Rs. 20,000 to Rs. 1,00,000 by SDMIMD based on the location of the host institute/university.
- Student Merit Scholarship:3 Students will be awarded Merit-cum-means Scholarship for Outstanding Academic Performance in each Term during the PGDM Program.
IFIM Bangalore Scholarships
IFIM Business School has announced merit scholarships for the 2020-22 batch of its two-year, full-time, residential, AICTE approved and AACSB accredited Post Graduate Diploma in Management (PGDM) programmes. Scholarships in the form of a tuition fee waiver, will be offered to meritorious students, who have appeared for CAT and/or GMAT and fulfil the eligibility criteria mentioned below:
|
Name of Scholarship |
No. of Scholarships |
Category |
Tuition Fee Waiver |
Eligibility |
|
Padode Foundation |
20 |
Super Scholar |
75% |
CAT Percentile:94; GMAT Score: 680 Class X percentage: 90; Class XII percentage:90 Degree: First class |
|
Padode Foundation |
20 |
Scholar |
50% |
CAT Percentile:90; GMAT Score: 650 Class X percentage: 90; Class XII percentage:80 Degree: First class |
|
Padode Foundation |
20 |
Academic Excellence |
30% |
CAT Percentile:85; GMAT Score: 600 Class X percentage: 80; Class XII percentage:75 Degree: First class |
Apart from the above, almost all the Colleges Offering MBA Scholarships in India help the students to reduce burden of tuition fee and maintenance expenses during the course of study.
Top MBA Scholarships in India: Key Details
Institute Based MBA Scholarship
one of the important MBA Scholarships offered by top B-Schools in India is the Institute based MBA scholarship. It includes Merit based MBA scholarship which is awarded on the basis of academic and overall performance during the MBA program or other similar criteria. Another MBA scholarship included in this type is Merit cum means MBA scholarship which is awarded to students after considering their academic performance and need for financial assistance to pursue their MBA. The third one is Financial assistance MBA scholarship which is awarded to students on the basis of family income and minimum academic performance.
CORPORATE SPONSORED MBA SCHOLARSHIP
The most popular in this category is Aditya Birla Scholarship for MBA, followed by O P Jindal Scholarship. Many companies offer scholarships at the top institutes in India. Sometimes, the leaders of such organizations include alumni of these top MBA colleges. Most of the alumni of reputed B-schools start scholarships in the memory of their studies.
Aditya Birla MBA Scholarship
- Students of IIM Ahmedabad, Bangalore, Calcutta, Lucknow, Kozhikode, Indore, Shillong, XLRI Jamshedpur are eligible to apply for this scholarship.
- Top 20 students in the institute can apply
- 180 students from IIMs and XLRI are evaluated for the award of scholarship
- Amount of scholarship is Rs.175,000 per annum
GOVERNMENT SPONSORED MBA SCHOLARSHIP
This MBA scholarship is offered in IIMs, IITs and other Government management colleges especially to SC, ST and PWD candidates.
BANKS’ SPONSORED MBA SCHOLARSHIP
Many banks like PNB Housing Finance, IDFC, Yes Bank among others offer these scholarships
When to Apply for MBA Scholarship?
Applications for award of MBA scholarship in India open after admission process is complete and academic session commences. IIMs and other top B-schools invite the MBA scholarship applications from the eligible candidates in the month of July/August. Top B-schools provide substantial financial support under the Scheme. The scholarship amount is decided on the basis of several criteria such as annual gross family income, ownership of assets, and the number of dependants in the family.
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