Best scholarships for MBA students of India

Having a Master of Business Administration or MBA can definitely help make an excellent career. However, an MBA course costs anywhere between Rs.500,000 to Rs.2.5 million. Such exorbitant fees are something which economically weaker students can’t genuinely afford. Enterprising young adults from weaker sections can avail scholarships for MBA students. These Scholarships for MBA students from various organizations offer varying levels of financial assistance. 

If you plan on studying an MBA course but don’t have the money, there’s nothing to fear. Apply for any of these best scholarship programs in India for MBA students. They can help fulfill your ambitions while avoiding the hassle of availing an education loan.

Scholarships for MBA Students in India

These best scholarships for MBA students are available for courses in India. They provide an opportunity to study an MBA at any best business school in the country and pave way for an amazing career.

1. Aditya Birla Scholarship

Aditya Birla Scholarships are available for education and hostel fees for studying at Indian Institute of Management (all campuses), Xavier Labor Research Institute, Indian Institute of Technology (specific campuses only) and Birla Institute of Technology & Science, Pilani.

You can get up to Rs.175,000 as a grant under this program. The trust closely monitors your performance during the MBA course. Future grants are given only if the trust is satisfied with your academic records during the MBA course. You have to submit a completed form to the dean of your business school to apply for this scholarship.

2. OP Jindal Engineering & Management Scholarship

This scholarship is worth Rs.150,000 per student.

OP Jindal Engineering & Management Scholarship is available for MBA and other management courses at some of the top business schools of India. These include the prestigious Indian Institute of Management (all campuses), Shreyans Prasad Jain Institute of Management Research (Mumbai), Jamnalal Bajaj Institute of Management Studies (Mumbai), Xavier Labor Research Institute (Jamshedpur), Jindal Global Business School (Sonepat), Indian Institute of Foreign Trade and the Management Development Institute (New Delhi).

Application for this scholarship is online only. The selection process for getting this scholarship consists of two stages: online test and personal interview. Generally, the online exam is held in September every year and consists of a behavioral test and knowledge about the Jindal Group of companies. Personal interviews are held in October and winners are announced after a few days.

3. Nirankari Rajmata Scholarship

Available on ‘merit and need’ basis, the Nirankari Rajmata Scholarship comes from Sant Nirankari Charitable Foundation. You can get a grant up to Rs.50,000 per year as an MBA student under this scholarship.

To apply for the Nirankari Rajmata Scholarship, you can download the free form from their website and send my mail to their office. You also need to provide an affidavit and several other documents along with your application, to qualify. This is one of the best scholarship programs for MBA students from economically weaker families.

4. Sitaram Jindal Scholarship

Despite certain limitations, the Sitaram Jindal Scholarship is one of the best for MBA students in India. It offers monthly grant ranging between Rs.1,000 and Rs.1,500 on ‘merit and need basis. This scholarship is however limited to students residing in Karnataka and West Bengal states only.

Qualifying for this scholarship from Sitaram Jindal Foundation is fairly simple. Female students that score a minimum 65 percent marks and male students with 70 percent in their graduation (Bachelor degree) exams qualify for this scholarship. There are no restrictions about which colleges or business schools you have to join as an MBA student.

5. SP Jain Global Institute of Management Scholarship

SP Jain Global Institute of Management offers excellent scholarships worth US$5,000 to US$15,000 per year under its Academic and Leadership programs. These are available for MVA students too. SP Jain Global Institute of Management has campuses in Dubai, Sydney, and Singapore as well as one in Mumbai. They also offer online MBA courses.

Study well and pass all entrance exams with flying colors if you wish to apply for this best scholarship for MBA students. The institute has very high standards for students that apply for its scholarships. This scholarship has the highest grants. Hence, several students from various countries also apply for this scholarship.

6. Sahu Jain Trust Scholarship

Sahu Jain Trust Scholarship comes from the country’s leading English newspaper, The Times of India. MBA students can get between Rs.2,500 and Rs.25,000 grant from this scholarship. You can either download the application form or get one free by visiting Sahu Jain Trust offices in New Delhi. To get the forms by mail, send an envelope with your address and bearing Rs. 10 stamp to the trust office.

Application forms are available from July and accepted through August. Sahu Jain Trust Scholarship for MBA students are ‘merit and need’ based. This means, you can get one for excellent record in studies or cannot afford fees. This scholarship is available for all reputed business schools in India.

Wrap Up

A few excellent scholarships for MBA students are also available for studies at foreign business schools. However, they usually cover only education fees while hostel and other charges are borne by the student. Apply for any of these best scholarship programs for MBA students to make an excellent career.

Before concluding, here are some facts. A recent study by Associated Chambers of Commerce and Industry (Assocham) reveals, only about seven percent of MBA holders in India are employable. The others lack skills and hold degrees from dubious business schools. Therefore, ensure you enroll at any top-notch business school in India to avail one of the best scholarship programs for MBA students. This can help avoid rejection of your application for a scholarship.