Scholarships for MBA Students in India 2023: Check Eligibility, How to Apply, Colleges Offer Scholarships
MBA education is an expensive affair when it comes to pursuing it from a top college. For such cases, here is a list of top 8 colleges that offer MBA scholarships in India along with the details of each, waiver amount and the eligibility for a candidate.
MBA Scholarships in India 2023: There’s nothing more fruitful than getting a scholarship while you pursue a Master of Business Administration (MBA). We all know that management is one of the most expensive fields of education and by the time the course is finished you are burdened by the amount of loan you took to pay your tuition fee. The good news is that you can get some relaxation on your expenses by applying for scholarships provided by business schools.
Although scholarships are usually based on past academic performances and entrance exam scores, you can still redeem yourself and get scholarships if you score well during the term of the program. Check out scholarships offered by some of the top business schools in India along with their eligibility, and application process.
Also Read: MBA Admission 2023
MBA Scholarships in India 2023
Scholarships are one of the most important factors considered by students when selecting a Master of Business Administration (MBA) college. Almost every college on the list of top MBA colleges in India offers scholarships so that students can complete their education without facing financial issues. Some of the colleges also offer scholarships who have participated in state-level or country-level championships.
Top 8 Colleges Offering MBA Scholarships in India
Some of the top B-schools offering MBA scholarships in India are:
Institute-wise MBA Scholarships Offered in India for 2023-25 Admissions
Now, let us go through the colleges one-by-one that offer MBA scholarships in India:Management Development Institute, Gurgaon
The NIRF 2022 Ranking of MDI Gurgaon is 13. MDI is an AICTE-accredited institute that is counted among the top B-schools in India. Apart from being the first management school in India accredited by the Association of MBAs (AMBA), it is also one of the few to have been accredited by the South Asian Quality Standards (SAQS). The following scholarships for management programs are available at Management Development Institute, Gurgaon.
| S.No. | Name of the Scholarship | Eligibility Criteria | Amount |
| 1. | Merit cum Means Scholarship | Offered to 10 students pursuing two-year full-time PGDM/PGDM-HRM/PGDM-IB (50% waiver of tuition fees) | Rs 17,60,000 per student |
| 2. | Merit-based Scholarship | Offered to 2 students at the end of their 2nd year | Rs.10,000 per student |
| 3. | Eiffel Scholarships | International scholarship for France offered to dual-degree program students | Not Available (NA) |
| 4. | DAAD Scholarship | Students are selected by various business schools in Germany and offered financial aid. | NA |
| 5. | O. P. Jindal Scholarships | 2nd-year students are eligible for this scholarship | Rs. 1,50,000 |
Institute of Rural Management, Anand
The NIRF 2022 Ranking of the Institute of Rural Management, Anand is 58. IRMA is a one-of-its-kind management school in India, established with the motive of training rural development organizations and co-operatives in management skills. It was inspired by the work of Dr. Kurien and is one of the few institutions to offer rural management programs in India. MBA students can take advantage of the following scholarships offered by Institute of Rural Management, Anand:
| S.No. | Name of the Scholarship | Amount |
| 1. | Merit-based scholarships from Sir Ratan Tata | Five students are shortlisted and provide with funds that cover part of their fees during the second. This is subjected to a ceiling of Rs.50,000 per year to 2nd-year students on a year-to-year basis |
| 2. | Scholarships for SC/ST Candidates | 15 students belonging to SC/ST category are offered scholarships that cover their entire cost of education. |
| 3. | GOI scholarships to IRMA for SC/ST students | 10 students are provided with this scholarship. |
| 4. | Scholarships from the Ministry of Tribal Affairs | 5 ST candidates are shortlisted for this scholarship. |
| 5. | National Dairy Development Board Scholarships | Students belonging to SC/ST category are selected for this scholarship. |
Indian School of Business, Hyderabad
ISB provides various scholarships to its students in collaboration with its corporate partners based on their academic performance. Following are a few of the scholarships provided by ISB Hyderabad:
| S.No. | Name of the Provider | Eligibility Criteria | Amount |
| 1. | Citigroup | 4 to 6 Students are shortlisted on the basis of merit. | USD 12,500 (approx. Rs. 9 lakhs) |
| 2. | Novartis | Selection of 3 students is done on both merit and need basis. | Rs. 4,00,000 |
| 3. | Nurture India | Selection is done on the basis of their need | Rs. 4,00,000 |
| 4. | Manhattan Review scholarships | 5 students are shortlisted on the basis of academic excellence. | Rs. 1,00,000 |
| 5. | Jamboree India-Talent Promotion Award | 5 students are selected on the basis of both need and merit | Rs. 1,00,000 |
| 6. | ISB@10 Global Scholarship | 10 international students are selected for this scholarship on the basis of merit | Varies from Rs. 3,00,000 to Rs.15,00,000 |
Amity Business School, Noida
The NIRF 2022 Ranking of Amity Business School, Noida is 28. Amity Business School is one of the top-ranking private management institutions in India. It has been counted among some of the top b-schools in surveys conducted by various organizations because of its commitment to equipping its students with the necessary professional knowledge and leadership skills necessary not only for succeeding in their careers but also for contributing towards building their nation. Some of the best MBA scholarships at ABS include:
| S.No. | Name of the Scholarship | Eligibility Criteria |
| 1. | 100% Scholarship | Candidates having a minimum aggregate of 93% in Class 12 of CBSE/ICSE Board (excluding Physical Education, Fine Arts & Performing Arts) and 80% marks in graduation can apply |
| 2. | 50% Scholarship | Candidates must have at least 88% aggregate marks in Class 12 and 75% marks in their graduation. |
SRM School of Management, Chennai
SRM School of Management is a renowned institution for management education offering BBA, MBA, Ph.D., and MMS programs in fields such as Finance, Operations, Data Analytics, etc. Its programs have been designed to create in-depth expertise in students, which is why its scholars can be found working at top positions at some of the best companies to work for in India. SRM offers the following MBA scholarship options for Indian students:
| S.No. | Name of the Scholarship | Eligibility Criteria | Amount |
| 1. | SRM Founder’s Scholarships | Top state rankers in final school exams, SRMEE, and exceptional sportspersons at the national and international levels are eligible to apply. | Full fee waiver along with a stipend of Rs. 1,000 per month. |
| 2. | Merit Scholarship | Students who secured 95% and above in CBSE board exams and secured a rank amongst the top 8000 in SRMEEE can apply. | 50% tuition fee waiver |
| 3. | Merit-Cum-Means Scholarship | Students for this scholarship are selected on a need basis and their performance in entrance exams. | 25% to 100% tuition fee waivers |
| 4. | Scholarship for minority communities | Students belonging to minority communities are shortlisted on the basis of their performance in the entrance exam. | 25% to 100% tuition fee waivers |
| 5. | Scholarship for physically-challenged/differently-abled | Students with physical disabilities or differently-abled students can apply. | Full tuition fee waiver |
| 6. | Scholarship for Special Merits | Students are shortlisted on the basis of exceptional literary debating, fine arts, and other such skills. | Tuition fee waiver of up to 100% |
ICFAI Business School
The NIRF 2022 Ranking of ICFAI Business School is 32. ICFAI Business School is one of the best colleges for an MBA in India. It is part of the ICFAI Foundation for Higher Education and has a total of 9 campuses operating throughout India. The following scholarships are offered by ICFAI Business School.
| S.No. | Name of the Scholarship | Eligibility Criteria | Amount |
| 1 | Merit Scholarships | Scholarships are distributed to students based on their GPAs in the 1st, 2nd, and 3rd Semesters of study. The scholarship amount varies according to the marks scored by the candidate. | Tuition fee waiver ranging from Rs. 20,000 - Rs. 50,000 per sem |
| 2 | Domicile Scholarship for IBS Dehradun and IBS Jaipur | For students belonging to the states of Uttarakhand and Rajasthan. Domicile certificate required. | Program fee concession of Rs. 50,000 is adjusted in a total of 5 installments |
| 3 | Past Academic Record Scholarship for IBS Dehradun and IBS Jaipur | For students of IBS Dehradun and IBS Jaipur who have scored 70% to 80% in graduation. | Rs. 50,000 - Rs. 1,00,000 adjusted in 5 equal installments of tuition fee. |
MICA, Ahmedabad
MICA is a unique business school for MBA specializations in marketing and communications. The institute is a popular choice for students who wish to make a career in the fields of creative communication and digital marketing. The following scholarships are offered by MICA.
| S.No. | Name of the Scholarship | Eligibility | Amount |
| 1 | MICA Scholarship | Students with an excellent academic record and family income not exceeding Rs. 8 LPA | Up to 25% of the annual tuition fee amount |
IFIM Business School
Established in 1995, IFIM is a prominent institution for management studies in India. The 6th college in India to receive AACSB accreditation, it is known for its strong expertise esp. in the areas of Finance and Marketing as well as for its Research Incubation Programmes. Given below are the scholarships available at IFIM Business School.
| S.No. | Name of the Scholarship | Eligibility | Amount |
| 1 | Super Scholar | Offered to meritorious students based upon their performance in CAT / GMAT / X / XII / Graduation. | Tuition fee waiver of 75% |
| 2 | Scholar | Tuition fee waiver of 50% | |
| 3 | Academic Excellence | Tuition fee waiver of 30% |
Also Read:Documents Required for MBA Admissions
Eligibility Criteria for MBA Scholarship in India
In order to be eligible for most of these scholarships, students may have to apply at their respective colleges. Contact the college’s admissions cell and make sure that you fulfill all the eligibility criteria for MBA scholarships before applying.
How to Apply for MBA Scholarships at Indian B-Schools?
You can visit the official website of the college in order to know more about the scholarships offered by them. You can apply for the scholarship while filling out the application form or during the selection process. Besides this, you will have to submit some of the required documents such as a caste certificate, income certificate, 12th mark sheet, graduation certificate, and passport-sized photograph while applying for MBA scholarships. The college will grant you scholarships only after the verification process.
Candidates should also check out the articles mentioned below to know more about MBA admissions!
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FAQs
What are the types of scholarships provided to MBA students in India?
Scholarships for MBA students can be of various types depending on numerous factors. Some scholarships are merit-based and take into consideration the academic prowess of candidates. Other scholarships take into account the social and economic background of potential students. There are also scholarships that are provided to employees of reputed organizations, these are also known as sponsorships.
Are scholarships available for online MBA courses in India?
Yes, some candidates can pursue online MBA courses in India by availing financial aid from a number of sources. Online MBA job boards can help students find funding options, such as scholarships. Search using personal criteria. Some scholarships take into account the race, ethnicity, gender, and family history of applicants.
What are some of the top colleges that offer MBA scholarships in India?
There are several colleges and B-schools in India that offer financial aid and scholarships to students who are limited by financial restrictions. Some of the top colleges that offer MBA scholarships in India are:
- Indian Institutes of Management (IIM-A, IIM-B, IIM-C, IIM-L, IIM-Indore, IIM-Kozhikode, IIM-Shillong)
- XLRI, Jamshedpur
- MDI, Gurgaon
- SPJIMR, Mumbai
- TAPMI, Manipal
- SDMIMD, Mysore
- IRMA Anand, Gujarat
What are the eligibility criteria for MBA scholarships in India?
The eligibility criteria for MBA scholarships in India are dependent on a lot of factors. Some scholarships are provided to candidates based on their performance in either MBA entrance exams or scholarship tests conducted by certain management institutes. On the other hand, scholarships are also provided to students who have outstanding academic records and grades, and/or belong to financially disadvantaged groups.
Are 100% scholarships available for MBA courses in India?
Yes, 100% scholarships are available for MBA courses in India. There are many institutes and organizations that offer financial aid to management students who wish to pursue higher education in some of the top B-schools and management institutes in the country. However, it must be noted that candidates have to have an exceptional academic background and an excellent profile to be eligible for scholarships, Typically, 100% scholarships are provided in the form of tuition fee waivers.