Having an MBA degree can give a competitive edge to individuals which will help them in boosting their career. Irrespective of the industry or domain you are serving, an MBA degree helps you gain requisite knowledge, ethics and skills to perfectly fit in the business community. Undoubtedly, an MBA is one of the most rewarding executive courses for both students as well as working professionals.
However, pursuing this programme can turn out to be a hefty expense for many aspirants. Thus, considering the high fees of the course, various institutions and organisations offer scholarships for MBA studies.
If you aspire to join a reputed MBA institution in India and excel in your career, but finances are limiting your ambition, an MBA scholarship is what you need.
List of top six MBA scholarships that students can avail to pursue studies in India
1. PNB Housing Finance Protsahan Scholarship
This scholarship has been introduced by PNB Housing Finance Limited (PNB-HFL) for students pursuing professional studies. Under this scholarship, the students enrolled in an MBA/ PGDM, Law or CA programme will receive suitable financial assistance for their studies.
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This scholarship is meant for students who are enrolled in the first year of MBA (Marketing and Finance) programme at one of the designated institutions. They are required to have scored at least 65 per cent marks in both class 12 and undergraduate studies.
Also, the annual family income should be less than Rs 8 lakh per annum.
Eligibility: MBA (Marketing & Finance) – 1st year students
Awards: Rs 2,00,000
Application timeline: December to February (tentative)
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2. IDFC FIRST Bank MBA Scholarship
IDFC First Bank is offering this scholarship opportunity for students who are enrolled in the first year of a full-time MBA programme at one of the 150 designated B-Schools in India. This is a need-based scholarship that aims to help students pay for their MBA programme. The annual income of the family should be less than or equal to Rs 6 lakh per annum from all sources.
Eligibility: 1st year MBA students (India)
Awards: Rs 1,00,000 per annum (for 2 years)
Application timeline: July to August (tentative)
3. BML Munjal University MBA Scholarship
An initiative of the Hero Group, this scholarship is meant for students who are willing to pursue an MBA programme at BML Munjal University. The scholarship is offered on the basis of CAT/ XAT percentile or GMAT scores of the students. The financial assistance may vary from 50 per cent tuition fees to 100 per cent tuition fees.
Eligibility: MBA applicants
Awards: Scholarship worth 100 per cent tuition fee and accommodation
Application timeline: June to July (tentative)
4. ONGC Scholarship
The ONGC Foundation offers scholarship schemes to the students belonging to General and OBC category who are studying in the first year of Engineering/ MBBS/ MBA or Master’s Degree in Geology/ Geophysics programme. The students are required to have obtained at least 60 per cent marks or equivalent in Class 12 and graduation programme.
The age of the candidates should be less than 30 years and the annual income of the family should be less than Rs 2 lakh for both General and OBC category candidates.
Eligibility: Engineering/ MBBS/ MBA or Master’s Degree in Geology/ Geophysics students
Awards: Rs 48,000 per annum
Application timeline: February to March (tentative)
5. UPESMET MBA Scholarship, UPES
This initiative of University of Petroleum and Energy Studies (UPES) offers financial assistance to undergraduate students who wish to pursue an MBA program. The students are required to qualify the UPESMET entrance exam to be eligible for this scholarship.
Furthermore, they are required to obtain a minimum of 80 percentile in CAT/XAT and a minimum of 90 percentile in MAT, CMAT, NMAT and UPESMET.
Eligibility: MBA aspirants
Awards: Tuition fee waiver of 25 per cent
Application Timeline: February and March (tentative)
6. Late Shri PD Agarwal Scholarship, IIHMR University
This scholarship is offered by IIHMR University, Jaipur for graduate students who wish to pursue an MBA programme across three different disciplines namely, Rural Management, Pharmaceutical Management and Hospital and Health Management.
The students are required to fulfill the respective course eligibility to be eligible for this scholarship. For Hospitality and Health Management, a student’s combined academic performance will be considered.
However, for Pharmaceutical Management, the students are required to secure at least 75 per cent marks in graduation and for Rural Management, they must secure at least 50 per cent marks in graduation.
Eligibility: MBA applicants
Awards: Rs 1,00,000 per student
Application Timeline: May to June (tentative).
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