Pursuing an MBA from a top private B-School in India can be costly due to the program’s comprehensive nature and industry exposure. Despite the high fees, the significant return on investment (ROI) makes an MBA a preferred choice for many students. This article covers various MBA scholarships in India, including industry-sponsored and individual-funded scholarships, with some specifically designed for women. It details eligibility criteria, such as academic excellence, financial need, and extracurricular achievements. Additionally, the article explains how to apply for these scholarships, including required documents and deadlines. It also offers best practices for applying, such as tailoring your application to each scholarship, writing compelling essays, and obtaining strong letters of recommendation. By following these guidelines, you can make your MBA journey more affordable and accessible.
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Types of MBA Scholarships in India in 2024
| Type | Description |
|---|---|
| Institute-Based MBA Scholarships | Offered by B-schools such as IIMs, XLRI, MDI, SPJIMR, TAPMI, etc. Tailored to students enrolled in MBA programs at these institutions. Often based on academic performance, leadership potential, and other criteria. |
| Government Sponsored Scholarships | Offered by institutes like IIMs, IITs, and other government-funded institutions. Aimed at promoting education among deserving candidates. Criteria may include academic merit, financial need, or specific demographic factors. |
| Corporate Sponsored Scholarships | Includes scholarships like OP Jindal Scholarship, Aditya Birla Scholarship for MBA, etc. Sponsored by corporations to support talented students pursuing MBA degrees. Selection criteria typically involve academic achievement, leadership qualities, and professional aspirations. |
| Bank-Sponsored MBA Scholarships | Offered by banks such as PNB Housing Finance and IDFC. Designed to alleviate financial burdens for MBA students. Criteria often revolve around academic performance, financial need, and potential contribution to the banking sector. |
TOP MBA Scholarships in India 2024
Corporate-Sponsored MBA Scholarships
| Scholarship Name | Amount | Eligibility Criteria & Details |
|---|---|---|
| Aditya Birla Scholarship | INR 1.75 lakh per year | IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Kozhikode, IIM Indore, IIM Shillong, and XLRI Jamshedpur |
| OP Jindal Engineering and Management Scholarship (OPJEMS) | INR 1.5 lakh per year | Second Year PGP students selected based on academic performance, online test, and personal interview. |
| HUL/T. Thomas Scholarship | INR 1 lakh per year | Second-year students on merit-cum-means basis awarded by Hindustan Unilever Ltd. |
| IDFC FIRST Bank MBA Scholarship | INR 2 lakh (INR 1 lakh per annum) | Eligible candidates with a family income ≤ INR 6 lakh annually, enrolled in MBA programs at 118 participating colleges. |
| ONGC Scholarship to Meritorious Students | INR 48,000 per annum | For eligible candidates with family income ≤ INR 2 lakh annually (≤ INR 4.5 lakh for SC/ST). 50% of scholarships are reserved for women. Minimum 60% in graduation required. |
| Yes Future Ready Scholarship | INR 2 lakh | Thirty students from chosen business and engineering institutions. Selection criteria include academic record, experience, achievements, online assessment, personal essay, and interview. |
| Mirae Asset Foundation Scholarship | INR 5 lakh | Meritorious, needy PGP students with family income ≤ INR 8 lakh. Awarded via MAF interviews. Includes IIM K, XLRI, SPJIMR. |
MBA Institute Based Scholarship
| Institute | Scholarship | Eligibility Criteria |
|---|---|---|
| IIM Ahmedabad | Fellow Programme in Management | Total family income less than ₹6 lakh per annum in the previous financial year. |
| State Scholarship | Need and merit-based, funded by the state government for top students from the state. | |
| Aditya Birla Group Scholarships | Merit Based 6 Students each year | |
| OP Jindal Engineering and Management Scholars | Based on academic performance, online test, and personal interview totally Team Decision | |
| IIM Bangalore | T Thomas Scholarship | Awarded to second-year students based on both academic excellence and financial need. |
| Societe Generale Global Solution Centre India Scholarship | For financially disadvantaged students, selection based on an interview. | |
| Employment in Social Sector Scholarship | After three years of service in the social sector, one-third of the tuition fee is reimbursed. | |
| IIM Lucknow | Bharti Scholarship | family income < ₹1.08 lakh per annum. |
| IIM Calcutta | Aditya Kashyap Memorial Scholarship | Awarded to the first rank holder. |
| SC/ST Scholarship | Need-based scholarship for students from SC/ST communities. | |
| IIM Indore | Financial Scholarship | Need-based financial support for deserving students. |
| State Scholarship | Funded by the state government, this scholarship is merit-based and awarded to top-performing students from the respective state. |
