In light of the costly fees, numerous organizations, including management institutions, provide financial support through scholarships for female MBA students in India for deserving candidates. These scholarships pave the way for students to pursue this esteemed yet costly program, helping them overcome the hurdle of exorbitant fees.
Scholarships for female MBA students in India
Are you a prospective student seeking MBA scholarships in India? If so, you might have encountered questions such as where to find scholarships, how to obtain them, whom to approach, when to apply, and how to apply. This article aims to address all of these inquiries, providing you with comprehensive information on MBA scholarships in India.
Prominent business institutions such as IIMs, XLRI, NMIMS, and others extend financial assistance to deserving students pursuing management studies. Numerous MBA scholarship programs are also available through organizations like the Aditya Birla Group, PNB Housing Finance, and OP Jindal. Here are some notable MBA scholarships offered in India.
Below are the best scholarships for female MBA students in India:
1. PNB Housing Finance Protsahan Scholarship
The PNB Housing Finance Empowerment Scholarship is an undertaking by PNB Housing Finance Limited, designed to offer financial assistance to students pursuing MBA or PGDM programs. Candidates are selected for the scholarship based on their academic achievements and financial requirements.
Eligibility criteria for the scholarship:
The scholarship is available to first-year students enrolled in MBA programs with a focus on Marketing and Finance. Eligible applicants must be studying at one of the following institutions:
- BIMTECH, Greater Noida
- Institute of Management Technology (IMT), Nagpur
- Indira Institute of Management, Pune
In addition, applicants must have achieved a minimum of 65% marks in both their Class 12 and undergraduate studies. The annual family income of the applicant should not exceed INR 8,00,000 (8 lakh) per annum.
To apply, eligible students can submit their applications online via the Buddy4Study portal.
The scholarship selection for MBA students is based on financial need and academic merit, following a multi-stage procedure, which includes:
- Initial screening based on academic merit and financial need.
- Shortlisting through telephonic interviews.
- If necessary, face-to-face interviews may be conducted for final selection.
Tentatively, from December to February.
2. IDFC FIRST Bank MBA Scholarship
The IDFC FIRST Bank MBA Scholarship is designed for students enrolled in the first year of full-time MBA programs who meet the eligibility criteria. This need-based scholarship aims to assist students in covering tuition fees for their management programs.
- Applicants must be Indian Nationals residing in India.
- Gross annual family income from all sources should not exceed INR 6 Lakhs per annum.
- Applicable to students enrolled in the first year of an MBA degree (or its equivalent).
- Applicants must be enrolled in one of the MBA colleges mentioned in the list. To view the list, click here.
Scholarship Award: Selected MBA students will receive a scholarship amount of INR 1,00,000 (INR 1.00 Lakh/year) for the duration of their MBA program.
Tentatively, from June to August.
3. BML Munjal University MBA Scholarship
BML Munjal University, an initiative of the Hero Group, offers this scholarship to MBA aspirants, providing up to a 100% waiver in tuition fees based on their CAT, XAT, or GMAT scores.
- Applicants must be applying for the MBA program at BML Munjal University.
- Candidates can apply online through the official BML Munjal University website.
- The reward will be determined based on the applicant’s percentile in CAT/XAT or GMAT scores.
April to July
4. Aditya Birla Scholarship
The Aditya Birla Group offers this scholarship to help cover a portion of the tuition fees for management programs at select IIMs and XLRIs.
Eligible students for the MBA scholarship are those from the following institutes:
- IIM Ahmedabad
- IIM Bangalore
- IIM Calcutta
- IIM Lucknow
- IIM Kozhikode
- IIM Indore
- IIM Shillong
- XLRI Jamshedpur
The top 20 students (based on their entrance exam ranking at the time of admission) are invited to apply through the Dean of their respective institutes.
Eligible students must complete the application form and submit it to their respective Dean.
About INR 1,75,000 per annum
A total of 180 students from IIMs and XLRI will be assessed based on the information provided in their application forms. Overall achievements and extracurricular excellence serve as the screening criteria for the next round, which consists of essay writing followed by an interview.
5. O.P. Jindal Engineering and Management Scholarship Scheme
Initiated in 2007, the OP Jindal Engineering and Management Scholarship scheme is one of the scholarships for female MBA students in India that provides financial support to PGP students from 10 leading management institutions. The selection process for the scholarship includes an application, written test, and interview.
The top 10 first and second-year students of management institutes are selected based on the following criteria:
- 1st-year students: Entrance exam ranking considered by the college at the time of admission
- 2nd, 3rd, and 4th-year students: Based on the academic performance of the previous year
Candidates can apply online by visiting the official website.
Recipients receive an amount of INR 1,50,000 per academic year.
6. YES FUTURE READY Scholarship
This scholarship program, created by Yes Bank, selects 30 outstanding scholars from 25 chosen business campuses. These scholars will undertake a business program focused on addressing business challenges with guidance from mentors. Upon successful completion of the program, the scholarship amount of INR 2,00,000 will be awarded.
- Application: Scholars will be evaluated based on their academic records, accomplishments, and experiences.
- Aptitude Assessment: An online test is designed to further assess the cognitive abilities and key competencies of shortlisted students.
- Interview: The final round consists of essay writing and an interview for the ultimate selection of scholarship recipients.
7. ONGC Scholarship
ONGC provides scholarships for female MBA students in India to deserving General category students enrolled in the first year of their MBA, Engineering, MBBS, or Master in Geology programs.
Selected scholars will receive INR 48,000 per annum (approximately INR 4,000 per month).
- Student must belong to the General category.
- He/she must be in the first year of an MBA, Engineering, MBBS, or Master of Geology program.
- A minimum of 60% or equivalent CGPA in Class 12 and graduation is required.
- The family income must not exceed INR 2 lakhs per annum.
- The candidate must not be older than 30 years of age.
8. Merit Cum Means Scholarship for Professional and Technical Courses CS (Minorities)
The Ministry of Minority Affairs offers scholarships for female MBA students in India to minority students enrolled in professional and technical courses at the undergraduate or postgraduate level. The goal is to provide financial support to meritorious and underprivileged students.
- Applicants must belong to minority communities (Muslims, Sikhs, Christians, Buddhists, Jain, and Parsis/Zoroastrians).
- He/she must be pursuing a technical or professional course at the undergraduate or postgraduate level from a recognized institution.
- Candidates must have secured at least 50% marks or an equivalent grade in the previous final examination.
- Applicants must belong to a family with an annual income not exceeding INR 2.50 Lakhs from all sources.
- He/she must have gained admission based on a competitive entrance examination or have scored at least 50% in Class 12 or graduation (in case of direct admission).
How to apply?
Candidates can apply online via the National Scholarship Portal.
- Course fee (for both Hostellers and Day Scholars): INR 20,000 per annum or actual, whichever is lower
- Maintenance allowance for Hostellers: INR 1,000 per month for 10 months in an academic year
- Maintenance allowance for Day Scholars: INR 500 per month for 10 months in an academic year
July to November (Tentative)
9. Post Graduate Scholarship for Professional Courses for SC/ST
UGC the Ministry of HRD scholarships for female MBA students in India designed for SC/ST students pursuing professional courses at the postgraduate level. The aim is to provide financial support to postgraduate students belonging to the SC/ST category.
- The candidate must belong to the SC/ST category.
- The candidate must be in the first year of a professional course at the postgraduate level.
- The candidate must be studying at any of the following Institutions/Colleges/Universities:
- Universities/Institutions/Colleges included under section 2(f) & 12(B) of the UGC Act.
- Deemed to be Universities included under Section 3 of the UGC Act, 1956, and are eligible to receive grants-in-aid from UGC.
- Universities/Institutions/Colleges funded by Central/State Government.
- Institutes of National Importance.
Candidates can apply online through the National Scholarship Portal.
Scholarship Award: INR 4,500 per month for MBA students. The reward will be credited through Direct Benefit Transfer (DBT).
July to January
10. MBA Scholarships by IIMs
Indian Institutes of Management (IIMs) are the premier B-schools in India. Leading IIMs offer various scholarships and rewards, the details of which are provided below.
MBA Scholarship at IIM Ahmedabad
IIMA Special Needs Scholarship: All students admitted to the Postgraduate program with a gross family income below INR 15,00,000 are eligible for this scholarship. IIM-A authorities will determine the financial assistance required for each applicant based on an assessment of the applicant’s economic status, considering factors such as family assets, the number of dependents on the family income, and more.
- Scholarship for SC/ST candidates: Students admitted to postgraduate programs belonging to the SC/ST category will be awarded INR 150 per month for 10 months.
- T. Thomas Scholarship: Hindustan Unilever Limited awards this scholarship to a second-year student. The selection is based on merit.
IIM Bangalore MBA Scholarships
- IIMB Financial Aid: Students enrolled in the PGP program are eligible for financial aid if their household income is below INR 600,000. Students facing severe financial difficulties due to sudden, unforeseen circumstances are also considered.
- Citi Women’s Leader Award: This scholarship scheme is designed to cover the tuition expenses for the second year of study. The institute nominates candidates, and the final selection is made by the Citi Group.
IIMB PGP Alumni First Batch (1976) Scholarship
This financial aid is intended to support differently-abled female students pursuing PGP. In the absence of any eligible female student, a differently-abled male student may be considered. The aim of this scheme is to honor the memory of the PGP batch of 1976 and their association with the institute. The scholarship awards a total of INR 75,000, a medallion, and a certificate.
IIM Lucknow Scholarships
- Need-based IIML Scholarships: Students with a family income below INR 1,50,000 are eligible for this scholarship. Eligible candidates are shortlisted for the award based on merit. The scholarship covers the tuition fee charged by the institute for that particular year.
Industry-Sponsored scholarships for female MBA students in India
At the end of each academic year, numerous industry-sponsored scholarships are awarded on a merit basis. The value of these scholarships ranges from INR 6,000 to 1,00,000 per annum. Major benefactors of these scholarships include Hindustan Lever Ltd., Reckitt Benckiser, Aditya Birla, Ratan Tata, Citibank, EXIM Bank, Hughes Software Systems, Nestle India Ltd., Central Bank of India, Apeejay Trust, and Bharti Foundation.
Bharti Enterprises offers a scholarship for needy and meritorious students whose annual family income does not exceed INR 1.08 Lakhs. The scholarship is valid for both years of the PGP program. Selected scholars will receive INR 50,000 per annum.
11. NMAT Scholarships
Scoring well in NMAT by GMAC can pave the way for scholarships and financial aid for students seeking admission in the following institutions:
a. Alliance School of Business
The institute offers merit-based scholarships to deserving candidates. Selection is based on academic performance, NMAT score, and performance in the Alliance Admission Selection Process.
- 210+: Top 10 students
- 180 to 209: Top 10 students
- 160 to 179: Top 20 students
- 50% for students scoring 210+
- 35% for students scoring between 180 and 209
- 25% for students scoring between 160 and 179
b. IILM University
The scholarships for female MBA students in India offered are as follows:
NMAT Score/scholarship award
40% waiver on tuition fee for students scoring 195
25% waiver on tuition fee for students scoring 180-195
12. Thapar School of Management
The institute offers 75 merit-based scholarships for female MBA students in India. All applicants are eligible to appear for the scholarship test, which is scheduled on the day of admission.
Students put in immense effort to prepare for MBA entrance exams, and financial constraints should not become a barrier in their pursuit of success. With the help of the MBA scholarship schemes described in this article, scholars can alleviate some of the financial pressures and continue working hard towards their goals.