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IDFC FIRST Bank MBA Scholarship For Students | Benefit of 2 lakhs (INR 1 lakh per year)
About the Program:
MBA Scholarship from IDFC FIRST Bank is a scholarship programme offered by IDFC FIRST Bank to help MBA students who are enrolled in the first year of a full-time, two-year MBA programme for the academic year 2022–2024. The MBA tuition for the students chosen for this scholarship programme is covered by an annual award of INR 1 lakh.
Bank IDFC FIRST was created in December 2018 with the union of IDFC Bank and Capital FIRST. To help individuals, small enterprises, and corporations, the Bank offers a variety of financial options. With a presence across the country, IDFC FIRST Bank engages in retail banking, wholesale banking, and other financial activities. The scholarship programme is a component of their CSR plan for the period 2022–2023. More than 900 MBA students from more than 150 colleges in India have received this fellowship to date.
Benefits: The selected MBA students will be awarded a scholarship sum of INR 2,00,000 (INR 1 lakh/year) over the duration of their 2 years MBA program.
LAST DATE TO APPLY: 15 July 2022
Eligibility:
The following eligibility requirements must be met by applicants for IDFC FIRST Bank Scholarships:
- The candidates must be Indian citizens who only reside in India.
- For students who have started the first year of the two-year MBA programme in the current fiscal year.
- Candidates must be enrolled in one of the MBA institutions listed in the list that is included in the part below under “Frequently Asked Questions.”
- The applicants’ total annual gross family income must be less than or equivalent to 6 lakh Indian rupees.
- Candidates must be 35 years old or younger as of the application deadline.
Documents:
The list of files that must be supplied prior to submitting the application form in its whole is provided below:
- Docs containing personal information
- Photograph of the Applicant as Identity Proof (Aadhaar Card, Voter ID Card, Driving License)
- Admission-related paperwork
- Admission Validation (With name of institution, admission year and batch)
- Receipt for Fees Copies
- Documents for academic records
- A copy of the graduation transcript or diploma
- Income Evidence (any one)
- A copy of the pay stub (Parents)
- Income Tax Return Copies (Form 16A)
- Income Certificate from the appropriate government agency (Tehsildar or Magistrate)
- Various Documents (If applicable)
- A certificate of disability
- letter of loan sanction
- Death certificate, if the only earner in the immediate family passes away
- Evidence of any additional scholarships obtained for an MBA
Rules and Regulations:
- Only Indian citizens are eligible for the scholarships, which are available for study in India.
- Candidates for the scholarship under this programme must be enrolled in an MBA programme or plan to do so for the academic year 2022–2023.
- The maximum scholarship award under this scheme will be INR 1 lakh per student, each academic year, and it will only be used to cover tuition costs and books.
- The total yearly gross family income, which includes the parents’ or guardians’ income from all sources, should not exceed INR 6 lakhs. The students from families with the lowest incomes will be given preference in that order.
- Candidates will need to provide papers, such as their parent(s) or guardian(s)’ income tax returns or, alternatively, their parent(s) or guardian(s)’ bank statements (s).
- The IDFC FIRST Bank Selection Panel will base its final approval of the suggested candidates on its internal due diligence and checks, which will always be subject to its management judgement.
- The final scholarship payment will be made to the applicant’s college or university based on the fee receipt the applicant has provided as proof of partial payment. The IDFC FIRST Bank must be given prompt access to the receipt for the remaining scholarship money received toward fees after payment has been made. Furthermore, the beneficiaries must keep and submit these fee receipts as well as necessary paperwork for applying for the scholarship for the following academic year, as appropriate.
- The IDFC FIRST Bank will email the candidates to inform them if they have been chosen for the scholarship.
- To the fullest extent authorised by law, the IDFC FIRST Bank reserves the right, in its sole discretion: (a) to reject or disqualify any application; or (b) subject to any written orders from a regulatory body, to modify, suspend, terminate, or cancel the scholarship, as necessary.
- Only interested individuals who are in possession of the necessary credentials and grade reports at the time of application are eligible to submit a scholarship application. No provisional application will be accepted based on an assurance that certificates and/or other needed documents will be provided in the future.
- Since this initiative falls under IDFC FIRST Bank’s Corporate Social Responsibility (CSR), IDFC FIRST Bank reserves the right to use the scholarship applicant’s or beneficiary’s photo and profile for future publications, disclosures, and communications with IDFC FIRST Bank’s stakeholders, as well as submissions to various authorities and interested parties from time to time for reporting on the initiative’s progress and use in corporate brochures , if any, in connection with CSR initiatives.
- There will be no deadline for closing applications because there will only be 350 recipients of the scholarship under this programme, so IDFC FIRST Bank maintains the right to halt the application process once that number has been reached.
- The scholarship recipients must maintain a regular attendance schedule, perform at a high level, and comply by all of the institute’s rules and regulations. These criteria will be established by the institution’s responsible authorities. It is required to notify the university of the scholarship you have been awarded, and you must include a request from the scholarship recipient asking them to let IDFC FIRST Bank know how you are doing. A copy of this documentation must be completed by the beneficiary and given to IDFC FIRST Bank before the scholarship can be paid out.
- In the event that they are chosen to receive a scholarship under this programme, the winners should not already have received a scholarship from any other organisation, including the government, corporations, trusts, etc.
- The scholarship shall be cancelled/discontinued forthwith and the amount of the scholarship paid shall be recovered, at the discretion of the concerned department of IDFC FIRST Bank if:
- Any of the scholarship’s rules are broken by the student.
- A student is found to be in violation of the Institutes’ policies or fails to show up for the course’s scheduled classes.
- The terms and circumstances of this programme and scholarship may be changed, withdrawn, or terminated at the discretion of the IDFC FIRST Bank Selection Panel without prior notice to the candidates. This programme and scholarship will be evaluated on a regular basis.
- The statements made by applicants/beneficiaries on their family’s financial situation and other factors may be independently verified and evaluated, although IDFC FIRST Bank has the right to do so.
- It is not a right for candidates from economically disadvantaged groups of society or from any other group to claim this benefit; rather, it is a beneficiary programme as part of IDFC FIRST Bank’s corporate social responsibility. Candidates will not be permitted to dispute the scholarship with IDFC FIRST Bank, and they will not be permitted to Against IDFC FIRST Bank, you can make any claims or start any legal actions.
