Scholarship for MBA students in India enables aspirants from lower-income families to attain quality education from the topmost Business schools in the country. Scholarships for MBA students in India are granted through various institutions including both Government and Private. Giving out scholarships for MBA students in India is significant in nation-building as it bridges the gap between top-quality education and deserving candidates irrespective of their financial status.
Based upon the requirements of candidates, scholarships for MBA students in India are provided under the following categories:
Merit-based scholarship for MBA students in India |
Given to candidates with extraordinary academic performance at school and graduation level along with exceptional performance in MBA entrance exams. |
Need-based scholarship for MBA students in India |
Given to candidates coming from poor backgrounds. |
Diversity and Gender-based Scholarship for MBA Students in India |
Given to candidates coming from diverse religious and cultural backgrounds. |
External scholarship for MBA students in India |
Given to students by companies that employ MBA graduates to bring new talent into their workspace. |
Most MBA institutes in India offer merit and need-based scholarships to students. The table below provides a list of MBA scholarships offered by top private MBA colleges in India:
MBA College |
MBA Scholarships Offered |
Post Graduate (MBA) Scholarship for IIT graduates, Jayatee Deshmukh PG Scholarship for a Girl Student, Merit-based PG Scholarships, Alumni Scholarship for first rank in MBA-IB, Malhotra Weikfield Foundation Scholarship for MBA-IB, Alumni Scholarship for second rank in MBA-IB, Lila Poonawalla Scholarships, Outstanding Sports Person Scholarships, Outstanding Student Participating in Co-curricular Activities |
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Aditya Birla Scholarship, Mirae Asset Foundation Scholarship, IDFC First Bank, T Thomas, OP Jindal Engineering & Management, Pirojsha Godrej, Geeta Saxena Memorial, Joseph M Sciortino, Kalyan Ganguly XEF Scholarship, Vasantha Sankaran Scholarship, Naveen Jain & Distinguished Alumni Award, XLRI Diamond Jubilee [Juniors], XLRI Diamond Jubilee [Seniors], Alumni Scholarship (General), Alumni Batch of 1988 Scholarship, OBC/EBC/DNT, Alumni Scholarship (SC/ST/EBC), Revolut Ira Scholarship, ST – Government of India, SC – Government of India |
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Mirae Asset Foundation (MAF) Scholarship, Merit cum – Means Based Financial Assistance |
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AICTE Tuition Fee Waiver (TFW) Scheme -1 Merit cum Means ScholarshipScheme-2 |
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Need-Based Scholarship Scheme, New Scholarship Scheme (NSS), Scholarships offered by the Government of India |
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Academic Competence and Excellence Scholarship Scheme (ACCESS) |
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Central Sector Scheme of Scholarship |
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Bonafide Uttarakhand Student scholarship, Alumni scholarship, Employee Ward Scholarship, Merit-based scholarships, Sports scholarship |
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Diversity & Merit Scholarships, Dr. Bala V Balachandran Merit Scholarship |
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Dr. Meenakshi Rajan Memorial Scholarship, Smt. Mayadevi S Somaiya Memorial Scholarship, Benevolent Scholarship, Bharti Nanji Gala Scholarship, Smt. Sakarbai K Somaiya Scholarship |
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Merit-based scholarship |
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Merit-based scholarship |
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Merit-cum-Means Scholarship |
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Late G.D Birla Academic Merit Scholarship, A. Shriyut B K Birla Admission Scholarship, C. Madhuri & Jagdish Sheth Endowment Awards, Scholarships for candidates admitted under supernumerary category |
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Merit-based scholarship |
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Means cum Merit-Based Scholarship |
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Principal L N Welingkar Inst. of Management Development and Research, Mumbai |
Linnaeus-Palme scholarship |
Diversity Scholarship, Career and Talent Scholarship |
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Pradyumna Bal Memorial Scholarship, KIIT Merit Scholarship, KIIT Poverty-Cum-Merit Scholarship |
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Post Matric Scholarship (SC), Merit Scholarship for students belonging to ST/SC/OBC/Minority category, Post Matric Scholarship (OBC), Merit cum Means Scholarship for Professional & Technical Courses, Smt. Sugan Devi Maheshwari Memorial Scholarship, Post Matric Scholarship for Minorities, Centrally Sponsored Schemes, Sh. B.C. Maheshwari Memorial Scholarship |
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Scholarships for students with disabilities, Merit-cum-means scholarships for SC/ST |
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Merit cum Means Scholarship, Prime Minister Special Scholarship Scheme, SC/ST and OBC Scholarships – State Level, Scholarships by Donors & Other Stakeholders |
IIMs are the most esteemed government MBA colleges in India. The MBA fees at IIMs range from INR 17 to 27 lakh, prompting many candidates to seek scholarship assistance to complete MBA courses. The following table provides the list of scholarships offered at various IIM campuses:
IIM Centre |
Scholarship Schemes |
Sponsored by Ratan Tata Trust, T. Thomas Scholarship (HUL), Aditya Birla Group, OP Jindal Engineering & Management Scholarship |
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Scholarships from Alumni, Scholarships from Companies, IIMA Exit Scholarships, IIMA Special Need-Based Scholarships, Scholarships from the Government of India |
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Need-based financial aid for all PGP students with family incomes below INR 8,00,000 |
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Need-Based Financial Assistance (NBFA) |
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IIMK Merit Scholarship, IIMK Need-Based Financial Assistance (NBFA) based on family income: Less than INR 1 lakh: 100% tuition fee waiver Between INR 1 Lakh and INT 1.5 lakh: 75% tuition fee waiver Between INR 1.5 Lakh and INT 2 lakh: 50% tuition fee waiver |
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Central Sector Scholarship Scheme of Top-Class Education for SC category |
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Scheme of Scholarship for Top-Class Education for PwD, Central Sector Scholarship Scheme of Top-Class Education for SC, Merit-cum-Means Scholarship for Minorities, National Fellowship and Scholarship for Higher Education of ST Students, Mukhya Mantri Sarvajan Uchcha Shiksha Scheme (for students from Rajasthan) |
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National Means Cum Merit Scholarship, Scholarships for Top-Class Education for Students with Disabilities, Post-matric Scholarship for Students with Disabilities, National Fellowship & Scholarship for Higher Education of ST Students |
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Need-based scholarship Scheme, Post-matric Scholarship for PwD, Scholarships for Students with Disabilities |
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Rajarshi Shahu Maharaj Merit Scholarship for SC Students in Maharashtra, Merit Cum Means Scholarship for Professional and Technical Courses |
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Contingency Grant, Financial Support for Conferences (INR 1.85 lakh over four years), and DPM Scholarship provided as follows- INR 30,000 for the first two years INR 35,000 after passing the second year |
Below are the top government universities and scholarships offered to students:
MBA Colleges |
Scholarship Schemes |
Merit-cum-Means based scholarship |
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Hamdard Education Society Scholarship, Dr A.P.J. Abdul Kalam Scholarship, Post Graduate Merit-cum-Means Mushirul Hasan Scholarship, Reliance Foundation Scholarships for UG & PG Students, Mrs. Maqbool Nikhat Mahdi Scholarship, SMT Shyam Lata Gard Scholarship, ONGC Merit Scholarship, Scholarships for Students from Minority Communities, Hakeem Abdul Hameed Scholarship, Scholarships from Foundation for Excellence India Trust, State Funded Scholarship Schemes, Pradhan Mantri Uchchatar Shiksha Protsahan |
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Scholarship for Blind students, Pyare Lal, S.N. Ranade Scholarship, Scholarship for rank holders, Merit-cum-Means based scholarship |
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Pre-Earned Credit Program Scholarship, Scholarship Scheme for MBA Students (qualifying for CAT, XAT, MAT, ATMA, CMAT), Post Graduate Scholarship for Professional Courses for SC/ST |
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Reliance Foundation Postgraduate Scholarship, Shraman Foundation |
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PG Scholarship for Univ. Rank Holder, National Fellowship for ST, Maulana Azad National Fellowship for Minority, National Fellowship for SC, Indira Gandhi Scholarship Scheme for Single Girl Child, PG Professional Courses Scholarship for SC/ST, Emeritus Fellowship, Kothari Fellowship |
Eligible candidates can apply for MBA scholarships through the official scholarship portal. They must complete the online application form and upload the necessary documents.
The steps to apply for MBA scholarship are as follows:
Here are the crucial documents candidates must upload during the MBA scholarship application process:
This is a list of Indian Institute of Management (IIM) scholarships for MBA students in India along with IIM eligibility criteria.
Scholarship for MBA students in India through IIM:
IIMs |
Scholarship |
Eligibility Criteria |
Fellow Programme in Management |
Total Family income less than 6 lakh p.a in the previous financial year. |
|
State |
Need and merit-based. Funded by the state govt. for top students belonging to the state. |
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Aditya Birla Group scholarships |
Merit-based scholarship. 6 students are selected. |
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OP Jindal Engineering and Management Scholars |
Based on academic performance along with an online test and personal interview. |
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T Thomas |
The second-year student is shortlisted. Based on merit cum means. |
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Societe General Global Solution Centre India |
Financially weak students. Based on the interview. |
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Employment in Social sector scholarship |
One-third of the tuition fee will be reimbursed as a scholarship after the candidate has completed 3 years of service in the social sector. |
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Bharti Scholarship |
Annual income less than 1.08 lacs p.a. |
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Aditya Kashyap Memorial |
First Rank Holder |
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SC/ST scholarship |
Students belonging to SC/ST. Need-based. |
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Financial scholarship |
Need-based |
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State scholarship |
Merit based. Funded by the state govt. for top students belonging to the state. |
There are also institutions other than IIMs that provide scholarships for MBA students in India. Here’s a table showcasing the various details about other scholarships for MBA students in India: Scholarship for MBA students in India:
Other scholarships for MBA students in India |
Eligibility Criteria |
ONGC scholarship |
General category students studying in the first year. Minimum 60% or equivalent CGPA in school as well as graduation. Family income less than 2 lakhs p.a. INR 48,000 will be given p.a. |
IDFC First Bank MBA Scholarship |
Must be enrolled in the first year. Family income less than or equal to 6 lakhs p.a. INR 1 lakh will be given p.a. |
BML Munjal University MBA scholarship |
Only for students applying to BML Munjal University. Variable amount based upon CAT/XAT/GMAT percentile. |
Merit cum Means Scholarship for Professional and Technical Courses (Minorities). |
Students belonging to minority communities. Scored at least 50% or equivalent in previous final exams. Family income must not exceed 2.5 lakhs p.a (all sources combined). |
Post Graduate Scholarship for Professional Courses for SC/ST. |
Students studying in the first year of the professional course at the post-graduate level. Eligible for receiving grants in aid from the University Grants Commission (UGC). |
IMT EWS Scholarships |
EWS students who are enrolled in any AICTE-approved two-year PGDM program. |
YES Future Ready scholarship |
Yes Bank provides financial assistance to 30 students (2 lakh each). Candidates are shortlisted based on academic performance. They further need to undergo an online test, submit an essay, and appear in an interview for final selection. |
Merit Scholarship by Management Development Institute (MDI), Gurugram |
At the end of the second year, best-performing students are awarded a merit scholarship of INR 10,000 |
Ques. What are the top scholarships for MBA programs in India?
Ans. There are numerous scholarships available, so it depends on your background and goals.
Ques. Are there scholarships for both government and private institutions?
Ans. Yes, Both government and private institutions offer scholarships for MBA programs.
Ques. Do private institutions offer scholarships for MBA programs?
Ans. Many top private institutions offer merit-based scholarships, need-based scholarships, and scholarships for specific demographics.
Ques. How can I find scholarships offered by private institutions?
Ans. The best way is to visit the websites of the B-schools you're interested in and search for their scholarship sections. They often detail eligibility criteria and application processes.
Ques. Are there any scholarships specific to private institutions?
Ans. Yes, some scholarships are offered directly by private institutions and might have unique criteria based on the institute's focus or priorities.
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