Hello, 
Every IIM has some form of need based financial assistance program as it is a mandate from MHRD. As a part of this, the institute offers tuition fee waiver of upto 100%, depending on the financial status and need of the applicant. Financial need is the sole basis of this aid rather than merit or an other parameter. Attributes such as academic performance, category (SC, ST, OBC etc), educational background and work experience of the student will not be considered (although such information is asked in the application form).

The college has a two-step process to decide on the number of awardees and the amount of aid. In the first stage, the applicants are rated based on the following criteria – family income , property, savings and outstanding loans. Based on this rating, some of the applicants are called for a personal interaction with faculty panels. During these interactions, faculty panels evaluate each applicant’s liquidity, credit-worthiness, and affluence; and arrive at a rank order of candidates. Based on the weighted average scores of these parameters, applicants are provided 100%, 75%, 50%, 25% or no aid.

The following gives an example of the scheme at IIM Calcutta and would be more or less similar to what the other IIMs grant. There might be a revision in the income slab limits and % aid offered at each slab. Family income is used for calculation and it includes your income as well.

Income up to Rs 300,000 = 100% of Tuition fee waiver amount
Income greater than Rs 300,000 and up to Rs 400,000= 75% of Tuition fee waiver amount
Income greater than Rs 400,000 and up to Rs 500,000= 50% of Tuition fee waiver amount
Income greater than Rs 500,000 and up to Rs 600,000= 25% of Tuition fee waiver amount
Apart from this, eligible students can also avail scholarshipsfrom the Central Government and various State Governments, industry scholarships, and alumni.

hope this helps..