MBA program is the most demanding and prestigious degree that can fetch candidates rewarding salary package and position in any eminent company. India is a diverse business landscape that is home to several top MBA colleges. Such MBA college’s charges fees ranging from 2.5 L to 27 Lakhs depending on varies factors.
Aspiring students, embarking their MBA journey requires not only passion but also scholarships that enables them to pursue management education without any financial loads. The MBA scholarships for Indian students help in lifting the burden of hefty university fees which can be troublesome for the candidates.
National Scholarship for MBA students enables candidates to pursue 2 years MBA program, without stressing on the total fee structure of the course. In this blog, we will discuss the top Government scholarship for MBA students.
Top Government Scholarships for MBA Students
MBA scholarships enable to increase the inclusivity and accessibility to post graduation management education. Government scholarships for MBA student offer supports to economical disadvantaged students, reserved category candidates and meritorious candidates.
The MBA scholarship for Indian students reduces their financial barrier and offers additional rewards to students who secure outstanding academic performance. This motivates more students from rural or underprivileged areas to aim for top business schools in India.
Following are the government Scholarships and schemes funded by central or state governments:
|
Government scholarships for MBA student
|
|
Name of Scholarship
|
Tentative application period
|
The value of fellowship
|
|
EWS Scholarship Scheme/Yojana
|
Varies(mostly in June)
|
₹10,000 + free access to online learning support
|
|
AICTE Tuition Fee Waiver (TFWS)
|
July–October
|
100% waiver of tuition fees
|
|
NSP Financial Assistance
|
August–December
|
₹3,000–₹25,000 (based on level, income, and need)
|
|
AICTE Saksham Scholarship
|
July–December
|
₹50,000 per annum until completion of course
|
|
Indian Oil Educational Scholarship
|
August–October
|
Up to ₹36,000 per year for economically disadvantaged students
|
|
IIMs/University Means-Cum-Merit Scholarships
|
May–August
|
Full or partial tuition fee waivers for students with income below ₹8 lakhs
|
|
National Fellowship for OBC
|
October–December
|
₹48,000–₹60,000 (covers tuition, maintenance, and books)
|
|
Merit Scholarship for OBC (Professional/Tech)
|
March–April
|
₹10,000–₹18,000 (based on need and eligibility)
|
|
Dr. B.R. Ambedkar State Award to SC/ST/OBC
|
March–April
|
₹25,000 (one-time award)
|
|
Post-Metric Scholarship for SC/ST/OBC
|
July–December
|
Up to ₹60,000 (includes fees, maintenance, hostel, books)
|
|
ONGC Scholarship
|
July–October
|
₹48,000 (₹4,000/month for 12 months, renewable)
|
|
National Fellowship for ST Students
|
September–December
|
Up to ₹28,000/month + full tuition (select institutes)
|
Other MBA Scholarships for Indian Students (National, CSR initiatives and institute specific)
MBA scholarships for Indian students include various categories of scholarships for students who are in need of financial assistance. The National scholarship for MBA students is offered by National Scholarship Portal (NSP) that provides students with a combination of government and private funded scholarships.
The private or CSR(Corporate Social Responsibility) initiative scholarships offers several merit need and category (women or minority section) based scholarships. Such scholarships are funded by their respective corporate foundations.
The institute specific scholarships are provided by top management colleges on the bases of candidate’s performance in entrance exams like CAT/NMAT, graduation merit score and as per financial need.
Mentioned below is the list of top MBA Scholarships for Indian Students:
|
MBA Scholarships for Indian Students
|
|
Scholarship Name
|
Type of scholarship
|
Application Month
|
Benefits / Scholarship Amount
|
|
National Scholarship Portal (NSP)
|
National scholarship
|
Varies(mostly between June-September)
|
Multiple scholarships for reserve and EWS section students. The amount ranges between 12,000-60,000 per annum.
|
|
Central Sector Scholarship Scheme (CSSS)
|
National scholarship
|
August–September
|
Up to ₹1,00,000 per annum (merit and income-based)
|
|
Minority Post Matric Scholarship (MOMA)
|
National Scholarship
|
September–December
|
₹3,000–₹7,000 per annum
|
|
AICTE Pragati Scholarship for Girls
|
National Scholarship
|
July–December
|
₹50,000 per annum
|
|
Aditya Birla Group Scholarship
|
CSR intiative scholarship
|
March–May
|
Up to ₹1,75,000 per year given to meritorious student of any top B-school management college
|
|
IDFC FIRST Bank MBA Scholarship
|
CSR initiative scholarship
|
April–June
|
Up to ₹2, 00,000 for two years based on candidates needs.
|
|
OP Jindal Engineering & Management Scholarship
|
CSR initiative scholarship
|
June–July
|
₹1, 50,000 per annum based on candidates merit-based.
|
|
Hindustan Unilever Limited (HUL) Scholarship
|
CSR initiative scholarship
|
August–September
|
₹1,00,000 per annum to students whose family income is ≤ INR 6 lakh/annum
|
|
Tata Trusts MBA Scholarships
|
CSR initiative scholarship
|
Varies (May–July)
|
Partial to full tuition fee waiver for meritorious students
|
|
Mahindra All India Talent Scholarship
|
CSR initiative scholarship
|
May–June
|
Corporate-funded merit & need scholarships
|
|
PNB Housing Finance Protsahan Scholarship
|
CSR initiative scholarship
|
July–August
|
Financial aid for marketing & finance MBA students
|
|
IIM Institutional Scholarships
|
Institute-specific scholarship
|
Varies by IIM (April–July)
|
Need and merit-based scholarships varying up to full tuition fee.
|
|
NMIMS Merit Scholarships
|
Institute-specific scholarship
|
May–July
|
Partial to full tuition fee waiver of students on the bases of merit and NMAT scores.
|
|
KCC-ITM Scholarship
|
Institute-specific scholarship
|
January-June
|
Partial fee waiver on the bases of graduation and CAT entrance scores.
|
|
XLRI & SPJIMR Scholarships
|
Institute-specific scholarship
|
June–August
|
Partial to full tuition fee waiver on the bases of merit and need of candidates.
|
|
ISB Young Leaders Scholarship
|
Institute-specific scholarship
|
May–June
|
Full tuition fee waiver on the bases of merit and leadership-based scholarships.
|
Final Takeaway
In conclusion, MBA scholarships for Indian students includes government, national, CSR initiative and institute-based scholarships. Government scholarship for MBA students is offered by National Scholarship Portal (NSP), these are funded by central or state governments. These scholarships make management education more accessible for diverse section of candidates.
For MBA aspirants to lift the extra layer of financial pressure, it is essential to navigate the various scholarships for pursuing management education. However, with the help of the above mentioned scholarships in India, such financial burden can be relieved.
FAQs for Top scholarships for MBA students in India
Q1. What is the largest government scholarship for MBA students in India?
Ans1. The largest government scholarship is offered by AICTE Tuition Fee Waiver Scheme, ONGC, and Central Sector Scholarships for MBA students in India.
Q2. Who can apply for national scholarships for MBA students?
Ans2. National scholarships on the NSP are open to Indian students only. Students from reserved categories, economically disadvantaged backgrounds, can apply on NSP (National Scholarship Portal).
Q3. Do top management colleges offer their own scholarships?
Ans3. Yes, all top management colleges like IIMs, XLRI, ISB, NMIMS, KCC-ITM ,SPJIMR, and Great Lakes offer institution specific scholarships based on entrance exam performance, academic merit, and financial need.
Q4. What documents are needed to apply for MBA scholarships for Indian students?
Ans4. Following documents are required for MBA scholarship application form:
· Income certificate,
· Mark sheets (10th, 12th and graduation/entrance examination score card)
· Category certificate (for reserved groups SC/ST/OBC/EWS),
· Aadhaar card(any personal identification card like PAN card/voter ID), and
Admission letter from the MBA college