IDFC First Bank MBA scholarships for 119 B-Schools across India, apply now!

IDFC First Bank has announced 350 scholarships for financially needy and meritorious students to pursue their MBA degrees. Under the scholarship, each student will be receiving financial support of INR 2,00,000 from the bank, after an application process which will end on September 2, 2021. The program is open for Indian students who have been accepted to any of the 119 B-Schools of the country for MBA programs in the 2021-2023 batch.

The bank stated that a student must be an Indian and should be enrolled for a 2-year, full-time MBA program for the 2021-23 batch, or equivalent in an Indian university or college listed for the program. Further, the student must belong to a family having gross annual income from all sources less than or equal to INR 6,00,000.

Click here to check the list of eligible colleges.

Rachana Iyer, the head of CSR at IDFC First Bank said that the bank realized that the rising costs of pursuing a management degree may act as a deterrent for even the most meritorious pupils, and hence, they have instituted this MBA scholarship program in order to support students that are deserving.

She further said that there have been severe setbacks to many families due to the Covid-19 pandemic. Following this, the scholarship program will support 350 students this year, which is the largest number since its inception. She says that she strongly believes that their students will build a career that will ultimately empower them to secure a better future for themselves and their families.

An MBA degree at any top B-School in India costs much more than INR 2,00,000. The fee for the 2-year PGP at various IIMs ranges from INR 10.6 Lakh to INR 23 Lakh. However, any amount of financial support to a financially weaker candidate would benefit him/her greatly.

The MBA scholarship program, which was initiated as a CSR activity by formerly Capital First in 2016 and has continued even after the formation of IDFC First Bank, has benefitted 677 students till now. These beneficiary students have diverse family backgrounds with parents who are retired lower-income scale government employees or auto-rickshaw drivers, farmers, and other such socio-economic backgrounds.

How to apply for the IDFC First Bank Scholarship?

1. Create an account: If you meet the eligibility criteria, create an account by providing your username and email address on the portal, and complete other formalities required for the application online.
2. Add details: After the registration process, you will be required to provide your personal details, academic records, and upload other necessary documents.
3. Submit: Save the changes during the application process to avoid any loss of data. Make the final submission.
4. Final intimation: After the application is submitted, an application number will be generated through which you will be able to track your application status. Applications will be reviewed by the IDFC First Bank, and the final intimation will be sent through the mail to your registered email address. You will be able to view it on the portal as well.

Click here to apply for the scholarship

For any other details, click here

Catch up on the latest pieces here:

• MBA scholarships from IIMs and other top B-Schools
• CAT, MAT, and XAT: MBA entrance exams you should definitely prepare for
• 30 international scholarships that you can apply without IELTS (fully funded)
• Should one take education loan to pursue MBA?
• From a small village of Maharashtra to UK, this farmer’s son and a TISS graduate won Chevening scholarship worth INR 45 Lakh