Scholarships: Fund your MBA
Team Careers360, 15 Dec 2013

THE MBA programme, of late, has become very expensive. For example, fee for a PGDM at IIMA which used  to be about Rs. 4 lakhs will now set you back by about 12 lakhs. While taking a bank loan is one way to defray the expenses, not many students are eligible for one. If you get admission to a Top Tier institute, at least, a placement is assured. But as one moves down the list of probable institutes, there is no guarantee of being placed.

Many institutes realise the irony. More over, as learning in an MBA programme happens much more with peers than in the class room, institutes have realised that having a  diverse but high quality student body is essential.

In comes the fellowship programme. While state-owned institutes, barring the IIMs, offer merit-come-means fellowships, the private sector institutes offer bursaries, topper discounts and complete fee waivers.

Here is a compilation of select programmes offered at the Top 50 B-Schools ranked by Careers360.  

Amity Business School
Amity Scholarship Scheme
(100% Scholarship)
- Students securing 93% aggregate and above (excluding Physical Education, Fine Arts & Performing Arts) in CBSE/ICSE Board of Class 12 and 80% in graduation.

50% Scholarship
- Students securing 88% aggregate and above (excluding Physical Education, Fine Arts & Performing Arts) in CBSE/ICSE Board of Class 12 and 75% in graduation.

Faculty of Management Studies
a) Sanwa Bank Foundation Scholarship

Awards a total of 10 scholarships, five each to the students of the first year and second year MBA (full-time). Scholarship amount is the  equivalent of US $ 500, in Rupees.

b) Nestle India Scholarship
Two scholarships for students of first year and second year MBA (full-time) of the value of Rs. 100,000/- and Rs. 75000/- per annum

c) GE Scholarship
Offers a scholarship of Rs.100,000/- per annum to the students of MBA (full-time) based on their first year results.

IBS Mumbai
a) IBSAT Merit Scholarships
Up to  Rs.2 lakhs in the form of concession in tuition fee,  offered to top 200 students on the basis of IBSAT or GMAT Scores.

b) Merit-cum-means Scholarships
IBS offers 190 scholarships in the form of concession in tuition fee up to Rs. 2 lakhs.

c) Campus Merit Scholarships
Up to 50% of tuition fee to 25% of students at each campus, based on the academic performance in semesters.

IFIM Business School
Padode Foundation
Offers scholarships, fee waiver and assistantship to the students of the institute each year. Apart from this some Corporate Scholarships are also offered on merit basis by a large number of leading Corporates.

Institute for Financial Management & Research
a) IFMR merit-cum-means assistance
Offered to a few deserving candidates. The assistance ranges from Rs. 100,000 to full waiver of tuition fees.

b) T Thomas Scholarship:
Award of Rs. 100,000 to be given to the best outgoing student of the full-time Post Graduate Diploma in Management.

Indian Institute of Management Ahmedabad
Need-based Scholarship
Scheme to help economically weak PGP and PGP-ABM students. The scholarship amount is decided on the basis of annual gross family income, parental asset ownership, number of dependants etc. Application for these scholarships can be made in July. In addition to need-based scholarship, IIM A has also instituted income-linked fee waiver scheme.

Indian Institute of Management Bangalore
a) Aditya Birla Scholarship
This merit-based scholarship is given to PGP students of both the first and second years. The scholarship amount is Rs. 1.75 lakhs per student.

b) Uday Nayak Scholarship
This is a merit-cum-means scholarship.  Amount of Rs. 10,000 is given to a second-year student.

c) T Thomas Scholarship
This merit-cum-means scholarship of Rs.  1 lakh is given by Hindustan Unilever Limited to one PGP second-year student. The selection is based on participation in co–curricular and extra curricular activities, Leadership, Academic Performance and Holistic Business Thinking.

d) OPJEMS Scholarships  (by O P Jindal Group)
This merit-based scholarship of Rs.1.25 lakhs is given by the OP Jindal Group to one student of each academic year.

e) Rajesh Kaushik Memorial Scholarship
This is a merit-cum-means scholarship of  Rs. 1.5 lakhs given per year.

Indian Institute of Management Calcutta
Need-based Financial Assistance
Students admitted to IIMC, whose annual gross family incomes are Rs. 4 lakh and below, are eligible for financial assistance amounting to full or partial tuition fee waiver. The financial assistance scheme will be available to both first and second year students.

International Management Institute
Merit-based Scholarship
Offered to students securing 1st, 2nd and 3rd rank to the tune of Rs. 50,000, Rs. 30,000 and Rs. 20,000 respectively

Institute of Management Technology, Ghaziabad
a) Bharti Scholarship Scheme 
The objective of the BSS is to support one bright student of the institute to the extent of Rs.50,000 on merit-cum-means basis.

b) IMT Scholarship
A merit scholarship of Rs. 10,000 is given to a student who has scored the highest and second highest CGPA at the end of the year during first and second years of PGDBM/MHRM&CG/MIB/PGDCA/PGDEM, in order to have a healthy competition among the students.

Indian School of Business
Domestic scholarships
a) Manhattan Review Scholarship
Amount: Rs. 100,000, No: 5
Criteria: GMAT Student of Manhattan Review
Selection Process: A formal application with the proof of ISB admissions offer, Manhattan Review Receipt and student ID Card.
Application dates: Not Applicable

b) Jamboree India-Talent Promotion Award
Amount: Rs. 100,000 No: 1 to 5
Criteria: Need and merit-based, awarded to students of Jamboree Education Pvt Ltd.
Selection Process: A formal application with proof of income, followed by a shortlisting/selection process
Application dates: Along with admission application

c) The Princeton Review Scholarship
Amount: Rs. 150,000, No. 3;
Amount: Rs. 100,000, No. 1;
Amount: Rs. 50,000 No. 2
Selection process: A formal application with proof of admission offer letter from ISB.

Institute for Technology and Management, Navi Mumbai
ITM Business School scholarships
For exceptional students with financial challenges. These range from a tuition fee waiver of 25% to 100%, often in exchange for on-campus employment as research assistants, administrative assistants, event managers etc.

Management Development Institute
Domestic Scholarships

a) Merit scholarships
There are five merit scholarships of Rs.10,000 each available for the top five students at the end of the second year.

b) Bharti Foundation Scholarship: Awarded on the basis of merit.

International Scholarships
France: Eiffel Scholarships are available for students going for dual degree programme.
Scholarships/funding support from Copenhagen Business School, Denmark, European Business School, Oestrich-Winkel, and Bergische Universitat Wuppertal, Wuppertal, Germany.

Mudra Institute of Communications Ahmedabad
Divya Bhaskar Scholarship of Academic Excellence in Media Management
Amount: Rs. 20,000 for Topper; Rs. 5,000 for the first runner-up in academics

page94SRM School of Management
a) Merit Scholarship
For students who have secured above 90% in CBSE or above 95 % in State Board exams and also ranked amongst the top 8000 in the SRM entrance exam, scholarships up to 50% of tuition fee waiver will be given in the branch they are eligible for, at the time of counselling. Quantum and number vary from time to time.

b) Merit-Cum-Means Scholarship (Socio-economic disdained)
Full scholarships, 25% to 100% tuition fee waivers, are offered to students with financial difficulties, based on their performance in the qualifying examination.

c) Scholarship for minority community
Full scholarships, 25% to 100% tuition fee waivers, are offered to students of minority communities based on the performance of students in the qualifying examination.

d) Scholarship for physically-challenged/differently-abled
Scholarship with full tuition fee waiver is offered to select students who are physically-challenged /differently-abled.

e) Scholarship for Special Merits
Scholarships with tuition fee waivers up to 100%, are offered to select students possessing exemplary skills in literary debating, fine arts and others.

St Joseph’s College of Business & Administration
A) Catholic students - Merit-cum-Means Scholarship
Offered to maximum 10 students by way of waiver up to 25 to 50 % of first-year tuition fees. Students with exceptional merit with financial difficulties may be considered for full tuition waiver and hostel facility.

B) General Merit Scholarship
Tuition fee waiver of up to 25 to 50 percent for five students, who have scored more than 80 percent marks in the qualifying examination.

Tata Institute of Social Sciences
Annual Scholarships for HRM&LR students

a) Ambuja Cement Foundation Scholarships
Two scholarships of a value not exceeding Rs.15,000 each, on a merit-cum-need basis.

b) Vaishno Mal Malhotra Endowment - K.K. Malhotra Scholarship
Two scholarships of Rs.12,000 each for one first-year and one second-year student on a need-cum-merit basis.

Annual Scholarships common for all programmes

a) S.W.K.C. Mahila Mandal’s AIWC Silver Jubilee Endowment Scholarship 
The annual value of the scholarship is Rs. 2,800 and is meant for needy students, who have performed well academically.

b) Bopia Batliwalla Scholarship:
Annual value of Rs. 6,000 for MA students on a need basis.

c) M.K. Tata Trust Scholarship:
Rs. 90,000 per annum for students in Social Work, HRM&LR, Master of Health Administration, and Master of Hospital Administration on a need-cum-merit basis.

d) Sorab Framroze Manekshaw Scholarship
For an economically poor student of the BA/MA/MPhil/PhD programmes of the Institute.

e) Free Tuitionships
20 are available for deserving students with poor financial circumstances

Xavier Institute of Management Bhubaneswar
Bharti Foundation  Scholarship
Awarded to PGDM students of XIMB in every batch to cover the students’ tuition fees and expenses related to courses of up to a maximum of Rs. 50,000 per year, for the duration of the course. This is merit-cum-need based and is awarded on the basis of academic performance, demonstrated leadership skills and responsible citizenry as well as financial need.


a) OP Jindal Engineering and Management
Merit-cum-online test based scholarships offered to two students, one from Business Management Programme (BM) and other from Personnel Management & Industrial Research (PM & IR), an amount of Rs.125,000 each.

b) T Thomas Scholarship
One scholarship of Rs.100,000 offered to student from PM & IR or BM programme.

c) Protsahan Charitable trust
Scholarships of Rs. 60,000 each offered to one student from PM& IR and one from BM programme on merit-cum-need basis.

d) Sir Ratan Tata Trust
Offers scholarship to five students of Rs. 60,000 each from students of BM & PM & IR programme.

e) Bharti Walmart
Merit-cum-need Scholarship of Rs. 50,000 offered to one student from BM or PM & IR programme.

f) Pirojsha Godrej
One Merit-cum-need scholarship of Rs. 25,000 is offered to student from PM & IR or BM programme.

g) Geeta Saxena Memorial
Offers scholarship of Rs 20,000 to a student from BM or PM & IR programme.

h) Joseph M Scortino (scholarship for tribal)
Offers Rs.25,000 to be distributed equally among the applicants

i) Naveen Jain
Scholarship offered to a student of BM programme on merit –cum-need basis
of Rs. 10,000.

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