MBA education in India is expensive; especially when it comes to top MBA colleges in India such as IIMs, MDI Gurgaon or IBS Hyderabad. Despite the high fees, when it comes to MBA courses, India’s top B-schools have adopted a very inclusive admission process that gives equal chance and opportunity to MBA aspirants who face financial difficulties. India’s top MBA institutes offer several scholarship opportunities to talented MBA aspirants to support them financially through their journey through the MBA world.
MBA Scholarships – Eligibility
Generally, these scholarships are awarded on the basis of merit and MBA aspirants performance in MBA entrance exams or their academic track record. Apart from these, there are some scholarships that are awarded to students who have already joined the course for their impeccable performance. So, someone who is really talented and passionate about joining top MBA Colleges in India, they can surely take advantage of the MBA scholarships and plan their MBA education in India.
So, let’s check out the different MBA scholarships offered by top MBA Colleges in India.
IIM Ahmedabad – MBA Scholarships
Being the premier B-school of the country, the institute also offers many different MBA scholarships for the students. You can find the key among them listed below:
IIMA Special Need Based Scholarships
For economically weak students who wish to pursue PGP or PGP-ABM. This is a fee waiver scheme offered on the basis of the family income of the student.
Depends on the annual gross family income
Family Income Linked Tuition Fee Waiver Scheme
Students whose total family income is less than Rs. 6 lakh in the previous financial year.
IIMA Special Scholarships (need-based)
Students who have a total family income of less than Rs. 200,000 as of the last financial year. The salaries of parents/guardians and spouse are considered for this and the income of the student or his siblings are not considered.
Industry Scholarships (need-based)
Students who are not registered for the IIMA special scholarships can apply
Only SC/ST category students having valid certificates can apply for this scholarship.
Rs.150 per month for 10 months
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
Aditya Birla Group Scholarships
Candidates are shortlisted by ABG on the basis of merit. Around six students are shortlisted.
Rs.1.25 lakh per student per annum
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.
Dunia Scholarships for scholastic excellence
Two students are shortlisted for this scholarship on the basis of merit.
Rs.100,000 per student
Ocwen Scholarship for Competence in Academics
The scholarship is given to a first-year student who is shortlisted through a research paper and PI.
ONGC SC/ST Merit-cum-Means Scholarships
Few of the SC/ST students are shortlisted for this scholarship.
State Governments sometimes fund the education of some of the best students from those states.
IIM Bangalore – MBA Scholarships
Think about IIMs and the name of IIM Bangalore surely comes across at the second position. Along with being one of the oldest IIMs in the country, the B-school has kept up with the changing times and adopted the latest trends in the domain of management education. IIM Bangalore also offers a host of MBA scholarships for aspirants and the list can be found below:
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
Uday Nayak Scholarship
A second-year student is shortlisted for this scholarship.
T Thomas Scholarship
A second-year student is shortlisted for this scholarship based on merit.
Two students are shortlisted for this scholarship one each from first and second year.
Rs.125,000 per student
Rajesh Kaushik Memorial Scholarship
Selection is strictly merit based.
Rs.150,000 per annum
Ocwen Financial Solutions Private Limited
One of the students is shortlisted on the basis of research paper submitted by the students.
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
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
IIM Lucknow – MBA Scholarships
The IIM that holds the distinct reputation of having the largest batch of MBA students in the country – IIM Lucknow is also a bastion of management education in India. This MBA College has spearheaded the domain of MBA education in the largest state of India. It also offers a long list MBA scholarships that aspirants planning to join the B-school can take advantage of. The key among them can be found in the table below:
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.
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.
25% of the students subject to specified norms are shortlisted for this scholarship
Rs.2200 per student p.a.
Students whose annual income is less than Rs.1.08 lacks from both first and second year are eligible to apply.
All SC/ST students are eligible to apply
Students are shortlisted based on family income and their fees and maintenance charges are covered by the government of the state to which the candidate belongs.
Private B-schools are generally known for their high fees along with quality education. MDI Gurgaon – one of the most well-known private MBA Colleges of the country also offers a host of MBA Scholarships for their students as stated below:
5 students are shortlisted at the end of the second year
Rs.10,000 per student
Students opting for dual degree program are selected for this International Scholarships for France
Students are selected by various business schools in Germany and offered financial aid.
IRMA Anand – MBA Scholarships
Generally MBA courses are associated with swanky offices and multi-national companies. IRMA is one b-school that has broken this myth and offers a dedicated management course in rural management. Considering that majority of India still lives in rural area, the course is very much in demand among the aspirants. Along with this the B-school also offers several MBA scholarships that can help lighten the financial burden on their students.
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
Scholarships for SC/ST Candidates
15 students belonging to SC/ST category are offered scholarships that cover their entire cost of education.
GOI scholarships to IRMA for SC/ST students
10 students are provided with this scholarship.
Scholarships from the Ministry of Tribal Affairs
5 ST candidates are shortlisted for this scholarship.
National Dairy Development Board Scholarships
Students belonging to SC/ST category are selected for this scholarship.
ISB Hyderabad – MBA Scholarships
ISB Hyderabad is another private player that is well-known in the world of management education in India. The B-school also offers a variety of MBA scholarships for both domestic as well as international students.
4 to 6 Students are shortlisted on the basis of merit.
Selection of 3 students is done on both merit and need basis.
Selection is done on the basis of their need
Manhattan Review scholarships
5 students are shortlisted on the basis of academic excellence.
Jamboree India-Talent Promotion Award
5 students are selected on the basis of both need and merit
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
Amity B-school – MBA Scholarships
One of the most popular B-schools in the country, Amity B-school has carved a niche for itself when it comes to MBA courses in India. The Amity B-school promises not only management education but experience based pedagogy that goes a long way in training the students well. Considering that it’s a private B-school and charges high fees, it also offers two main scholarship options to their students.
Candidates having minimum aggregate of 93% in Class 12 of CBSE/ICSE Board (excluding Physical Education, Fine Arts & Performing Arts) and 80% marks in graduation can apply
Candidates must have at least 88% aggregate marks in Class 12 and 75% marks in their graduation.
SRM School of Management – MBA Scholarships
One of the more recent entrants to the list of top MBA Colleges in India – SRM School of Management has also several MBA scholarships on offer. The B-school is surely a top choice among MBA aspirants who are planning to join a private MBA college.
SRM Founder’s Scholarships
Top state rankers in final school exams, SRMEE and exceptional sports persons at the national and international level are eligible to apply.
Full fee waiver along with a stipend of Rs.1000 per month.
Students who secured 95% and above in CBSE board exams and secured a rank amongst top 8000 in SRMEEE can apply
50% tuition fee waiver
Students for this scholarship are selected on a need basis and their performance in entrance exams.
25% to 100% tuition fee waivers
Scholarship for minority community
Students belonging to minority communities are shortlisted on the basis of their performance in the entrance exam.
25% to 100% tuition fee waivers
Scholarship for physically-challenged/differently-abled
Students with physical disabilities or differently-abled students can apply.
Full tuition fee waiver
Scholarship for Special Merits
Students are shortlisted on the basis of exceptional literary debating, fine arts and others such skills.
Tuition fee waiver of up to 100%
These were the key MBA scholarships that are offered by top MBA Colleges in India. These MBA scholarships are aimed at providing equal opportunities to MBA aspirants who are unable to join top B-schools of the country due to financial limitations. Furthermore, these scholarships also act as an inspiring factor that helps students and promotes competition among the students.
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