IIMB Financial Aid & Scholarships : Indian Institute of Management Bangalore

Organisation : Indian Institute of Management Bangalore
Scholarship Name : IIMB Financial Aid & Scholarships
Website : https://www.iimb.ac.in/

Financial Aid & Scholarships :

IIMB extends financial aid to students in need of financial assistance. The objective of the Financial Aid Policy at IIMB is to ensure that no student is deprived of an education at the institute for financial reasons.

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All PGP students with annual household income below INR 4,50,000 are eligible to apply for financial aid. Other students with severe financial difficulties arising from sudden unforeseen circumstances are also considered.

The Financial Aid Committee undertakes a two-step process for deciding the number of awardees and quantum of aid. In the first stage, the students are given a financial status score based on four criteria – Annual Gross Household Income (including income of the student if employed before joining IIMB and outstanding loans if any, provided they were not taken for conspicuous consumption), Household Savings, Real Estate Assets, and Other Assets.

Based on this score, some of the students are called for a personal interaction with a faculty panel. During these interactions, faculty panels evaluate the financial need of the student, as well as establish the genuineness of the details provided by the student in the application and assign a financial need score. Based on the weighted average of these two scores, applicants are provided 100%, 80%, 60%, 40% or 20% financial aid.

Scholarships :
In addition to the Financial Aid, which is provided purely on the basis of financial need, PGP students also receive several Merit based or Merit-cum-Need based scholarships and the details are as below:

1.Aditya Birla Scholarship:
This merit-based scholarship is given to PGP students of both the first and the second years. The students who are granted the scholarship during the first year are eligible to apply for renewal in the second year, provided they belong to the top 25% of the batch in the first year. The scholarship amount is INR 1.75 lakh per student.

2.OPJEMS Scholarship:
This merit-based scholarship is given to PGP student of second year .The first ten toppers of 2nd year based on the academic performance in the first year are eligible to apply Basis of online test conducted by OP Jindal Group one student of each academic year will be awarded. The scholarship amount is INR 1.50 lakh

3.Citi Women’s Leader Award:
This is a merit scholarship that covers the second year’s tuition expenses. Candidates are selected from the top 25% of the batch at the end of the first year. Nomination is done by the institute and the students are selected on the basis of their Statement of Purpose and subsequent interviews scheduled by Citi Group.

4.Societe Generale Global Solution Centre India Scholarship:
This is a means scholarship that covers tuition expenses in full. Candidates are selected from the neediest applicants in the first year and subsequent interviews conducted by Societe Generale.

5.Siddhartha Padam Award:
This scholarship is awarded to a PGP student who is on the Director’s Merit List and gets the highest CGPA in the Economics, Finance & Accounting core courses in the first year. It carries a cash prize of INR 50,000, a medallion and a certificate.

6.IIMB PGP Alumni First Batch (1976) Scholarship:
This scholarship is given to a differently-abled woman student from PGP. The scholarship aims to assist a differently-abled female student (or a differently-abled male student, if there is no eligible female student). It keeps alive the memory of the PGP batch of 1976 and their association with the institute. The scholarship carries a purse of INR 75000, a medallion and a certificate.

7. Runwal Education Trust Scholarship:
This scholarship is given to a PGP student based on a combination of academic performance in the 1st year and the student’s financial need. The scholarship carries a purse of INR 100000, a medallion and a certificate.

8. Hindustan Unilever / T Thomas Scholarship:
This merit-cum-means scholarship is given by HUL to one PGP second-year student. The scholarship of INR 1 lakh

9. Yes Bank Scholarship:
This scholarship of INR 2 lakhs is open to students who are among the top 20 students as per the admission criteria, belong to the top 20% of the batch based on the current CGPA and are members of at least one student committee.

10. NTPC Scholarship Scheme:
The scholarship amounts to INR 48,000 per year. Students who belong to SC/ST/PwD categories and are in their second year of management studies, having passed the first-year examination in one attempt, are eligible for the scholarship.

11. Employment in Social Sector Scholarship:
This scholarship reimburses the recipient one-third of the fees at the end of each year of work for the first three years in the social sector.

12. Ministry of Tribal Affairs Scholarship (ST):
The Ministry of Tribal affairs, Government of India invites applications for the National Scholarship for Higher Education for Scheduled Tribe students of PGP first year. This is a means scholarship that covers tuition expenses in full.

13. Ministry of Social Justice and Empowerment Scholarship (SC):
The Ministry of Social Justice and Empowerment Government of India invites applications for the National Scholarship for Higher Education for Scheduled Caste students from Meritorious SC students PGP first year. This is a means scholarship that covers tuition expenses in full.

14. Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD):
A person with disability having not less than 40% disability and having a disability certificate issued by any competent medical authority. . This is a means scholarship is 2, 55,000 per year.

Apart from above scholarships, students can also apply for other State Government Scholarships routed, through financial aid and scholarship office.