Top MBA Scholarships in India: Options for Government and Private Institutions

Scholarship for MBA students in India enables aspirants from lower-income families to attain quality education from the topmost Business schools in the country. Scholarships for MBA students in India are granted through various institutions including both Government and Private. Giving out scholarships for MBA students in India is significant in nation-building as it bridges the gap between top-quality education and deserving candidates irrespective of their financial status.

Scholarships for MBA Students in India: Types

Based upon the requirements of candidates, scholarships for MBA students in India are provided under the following categories:

Merit-based scholarship for MBA students in India	Given to candidates with extraordinary academic performance at school and graduation level along with exceptional performance in MBA entrance exams.
Need-based scholarship for MBA students in India	Given to candidates coming from poor backgrounds.
Diversity and Gender-based Scholarship for MBA Students in India	Given to candidates coming from diverse religious and cultural backgrounds.
External scholarship for MBA students in India	Given to students by companies that employ MBA graduates to bring new talent into their workspace.

MBA Scholarships in India for Private Colleges

Most MBA institutes in India offer merit and need-based scholarships to students. The table below provides a list of MBA scholarships offered by top private MBA colleges in India:

MBA College	MBA Scholarships Offered
SIBM, Pune	Post Graduate (MBA) Scholarship for IIT graduates, Jayatee Deshmukh PG Scholarship for a Girl Student, Merit-based PG Scholarships, Alumni Scholarship for first rank in MBA-IB, Malhotra Weikfield Foundation Scholarship for MBA-IB, Alumni Scholarship for second rank in MBA-IB, Lila Poonawalla Scholarships, Outstanding Sports Person Scholarships, Outstanding Student Participating in Co-curricular Activities
XLRI, Jamshedpur	Aditya Birla Scholarship, Mirae Asset Foundation Scholarship, IDFC First Bank, T Thomas, OP Jindal Engineering & Management, Pirojsha Godrej, Geeta Saxena Memorial, Joseph M Sciortino, Kalyan Ganguly XEF Scholarship, Vasantha Sankaran Scholarship, Naveen Jain & Distinguished Alumni Award, XLRI Diamond Jubilee [Juniors], XLRI Diamond Jubilee [Seniors], Alumni Scholarship (General), Alumni Batch of 1988 Scholarship, OBC/EBC/DNT, Alumni Scholarship (SC/ST/EBC), Revolut Ira Scholarship, ST – Government of India, SC – Government of India
SPJIMR	Mirae Asset Foundation (MAF) Scholarship, Merit cum – Means Based Financial Assistance
MDI, Gurgaon	AICTE Tuition Fee Waiver (TFW) Scheme -1 Merit cum Means ScholarshipScheme-2
Indian Institute of Foreign Trade	Need-Based Scholarship Scheme, New Scholarship Scheme (NSS), Scholarships offered by the Government of India
Goa Institute of Management	Academic Competence and Excellence Scholarship Scheme (ACCESS)
SVKM’s NMIMS	Central Sector Scheme of Scholarship
UPES, Dehradun	Bonafide Uttarakhand Student scholarship, Alumni scholarship, Employee Ward Scholarship, Merit-based scholarships, Sports scholarship
Great Lakes Institute of Management	Diversity & Merit Scholarships, Dr. Bala V Balachandran Merit Scholarship
K J Somaiya Inst. of Management Studies and Research	Dr. Meenakshi Rajan Memorial Scholarship, Smt. Mayadevi S Somaiya Memorial Scholarship, Benevolent Scholarship, Bharti Nanji Gala Scholarship, Smt. Sakarbai K Somaiya Scholarship
IMI Delhi	Merit-based scholarship
TA Pai Management Institute, Manipal	Merit-based scholarship
MICA, Ahmedabad	Merit-cum-Means Scholarship
Birla Inst. of Management Technology, Greater Noida	Late G.D Birla Academic Merit Scholarship, A. Shriyut B K Birla Admission Scholarship, C. Madhuri & Jagdish Sheth Endowment Awards, Scholarships for candidates admitted under supernumerary category
ICFAI Foundation for Higher Education, Hyderabad	Merit-based scholarship
Fore School of Management, New Delhi	Means cum Merit-Based Scholarship
Principal L N Welingkar Inst. of Management Development and Research, Mumbai	Linnaeus-Palme scholarship
Rajagiri Business School, Cochin	Diversity Scholarship, Career and Talent Scholarship
Kalinga Inst. of Industrial Technology, Bhubaneswar	Pradyumna Bal Memorial Scholarship, KIIT Merit Scholarship, KIIT Poverty-Cum-Merit Scholarship
New Delhi Institute of Management, Delhi	Post Matric Scholarship (SC), Merit Scholarship for students belonging to ST/SC/OBC/Minority category, Post Matric Scholarship (OBC), Merit cum Means Scholarship for Professional & Technical Courses, Smt. Sugan Devi Maheshwari Memorial Scholarship, Post Matric Scholarship for Minorities, Centrally Sponsored Schemes, Sh. B.C. Maheshwari Memorial Scholarship
Panjab University, Chandigarh	Scholarships for students with disabilities, Merit-cum-means scholarships for SC/ST
Jamia Hamdard, New Delhi	Merit cum Means Scholarship, Prime Minister Special Scholarship Scheme, SC/ST and OBC Scholarships – State Level, Scholarships by Donors & Other Stakeholders

MBA Scholarships in India for IIMs

IIMs are the most esteemed government MBA colleges in India. The MBA fees at IIMs range from INR 17 to 27 lakh, prompting many candidates to seek scholarship assistance to complete MBA courses. The following table provides the list of scholarships offered at various IIM campuses:

IIM Centre	Scholarship Schemes
IIM Calcutta	Sponsored by Ratan Tata Trust, T. Thomas Scholarship (HUL), Aditya Birla Group, OP Jindal Engineering & Management Scholarship
IIM Ahmedabad	Scholarships from Alumni, Scholarships from Companies, IIMA Exit Scholarships, IIMA Special Need-Based Scholarships, Scholarships from the Government of India
IIM Bangalore	Need-based financial aid for all PGP students with family incomes below INR 8,00,000
IIM Indore	Need-Based Financial Assistance (NBFA)
IIM Kozhikode	IIMK Merit Scholarship, IIMK Need-Based Financial Assistance (NBFA) based on family income: Less than INR 1 lakh: 100% tuition fee waiver Between INR 1 Lakh and INT 1.5 lakh: 75% tuition fee waiver Between INR 1.5 Lakh and INT 2 lakh: 50% tuition fee waiver
IIM Kashipur	Central Sector Scholarship Scheme of Top-Class Education for SC category
IIM Udaipur	Scheme of Scholarship for Top-Class Education for PwD, Central Sector Scholarship Scheme of Top-Class Education for SC, Merit-cum-Means Scholarship for Minorities, National Fellowship and Scholarship for Higher Education of ST Students, Mukhya Mantri Sarvajan Uchcha Shiksha Scheme (for students from Rajasthan)
IIM Sirmaur	National Means Cum Merit Scholarship, Scholarships for Top-Class Education for Students with Disabilities, Post-matric Scholarship for Students with Disabilities, National Fellowship & Scholarship for Higher Education of ST Students
IIM Shillong	Need-based scholarship Scheme, Post-matric Scholarship for PwD, Scholarships for Students with Disabilities
IIM Nagpur	Rajarshi Shahu Maharaj Merit Scholarship for SC Students in Maharashtra, Merit Cum Means Scholarship for Professional and Technical Courses
IIM Rohtak	Contingency Grant, Financial Support for Conferences (INR 1.85 lakh over four years), and DPM Scholarship provided as follows- INR 30,000 for the first two years INR 35,000 after passing the second year

MBA Scholarships in India for Government Colleges/Universities

Below are the top government universities and scholarships offered to students:

MBA Colleges	Scholarship Schemes
Anna University, Chennai	Merit-cum-Means based scholarship
Jamia Millia Islamia, New Delhi	Hamdard Education Society Scholarship, Dr A.P.J. Abdul Kalam Scholarship, Post Graduate Merit-cum-Means Mushirul Hasan Scholarship, Reliance Foundation Scholarships for UG & PG Students, Mrs. Maqbool Nikhat Mahdi Scholarship, SMT Shyam Lata Gard Scholarship, ONGC Merit Scholarship, Scholarships for Students from Minority Communities, Hakeem Abdul Hameed Scholarship, Scholarships from Foundation for Excellence India Trust, State Funded Scholarship Schemes, Pradhan Mantri Uchchatar Shiksha Protsahan
Banaras Hindu University, Varanasi	Scholarship for Blind students, Pyare Lal, S.N. Ranade Scholarship, Scholarship for rank holders, Merit-cum-Means based scholarship
Chandigarh University	Pre-Earned Credit Program Scholarship, Scholarship Scheme for MBA Students (qualifying for CAT, XAT, MAT, ATMA, CMAT), Post Graduate Scholarship for Professional Courses for SC/ST
Atal Bihari Vajpayee Indian Inst. of IT and Management	Reliance Foundation Postgraduate Scholarship, Shraman Foundation
Aligarh Muslim University, Aligarh	PG Scholarship for Univ. Rank Holder, National Fellowship for ST, Maulana Azad National Fellowship for Minority, National Fellowship for SC, Indira Gandhi Scholarship Scheme for Single Girl Child, PG Professional Courses Scholarship for SC/ST, Emeritus Fellowship, Kothari Fellowship

Steps to Apply for an MBA Scholarship in India

Eligible candidates can apply for MBA scholarships through the official scholarship portal. They must complete the online application form and upload the necessary documents.

The steps to apply for MBA scholarship are as follows:

Visit the official website of the National Scholarships Portal and read the scholarship guidelines.
Select the type of scholarship and complete the registration process.
Accurately enter the necessary details.
Upload the required scanned documents.
Download and save a copy of the scholarship application for future reference.

Documents Required to Apply for MBA Scholarship in India

Here are the crucial documents candidates must upload during the MBA scholarship application process:

Recent passport-size photo
Scanned copy of the bank passbook (first page)
Scanned Aadhar card (front and back)
Passing certificate of class 10th, 12th, and graduation
Birth certificate signed by authorised Revenue Officer
Caste certificate signed by authorised Revenue Office
Permanent Residential Certificate
Parent’s income certificate
Qualifying for the top MBA entrance exam

IIM scholarship for MBA students in India

This is a list of Indian Institute of Management (IIM) scholarships for MBA students in India along with IIM eligibility criteria.

Scholarship for MBA students in India through IIM:

IIMs	Scholarship	Eligibility Criteria
IIM Ahmedabad	Fellow Programme in Management	Total Family income less than 6 lakh p.a in the previous financial year.
	State	Need and merit-based. Funded by the state govt. for top students belonging to the state.
	Aditya Birla Group scholarships	Merit-based scholarship. 6 students are selected.
	OP Jindal Engineering and Management Scholars	Based on academic performance along with an online test and personal interview.
IIM Bangalore	T Thomas	The second-year student is shortlisted. Based on merit cum means.
	Societe General Global Solution Centre India	Financially weak students. Based on the interview.
	Employment in Social sector scholarship	One-third of the tuition fee will be reimbursed as a scholarship after the candidate has completed 3 years of service in the social sector.
IIM Lucknow	Bharti Scholarship	Annual income less than 1.08 lacs p.a.
IIM Calcutta	Aditya Kashyap Memorial	First Rank Holder
IIM Calcutta	SC/ST scholarship	Students belonging to SC/ST. Need-based.
IIM Indore	Financial scholarship	Need-based
IIM Indore	State scholarship	Merit based. Funded by the state govt. for top students belonging to the state.

Scholarships for MBA students in India: Other Alternatives

There are also institutions other than IIMs that provide scholarships for MBA students in India. Here’s a table showcasing the various details about other scholarships for MBA students in India: Scholarship for MBA students in India:

Other scholarships for MBA students in India	Eligibility Criteria
ONGC scholarship	General category students studying in the first year. Minimum 60% or equivalent CGPA in school as well as graduation. Family income less than 2 lakhs p.a. INR 48,000 will be given p.a.
IDFC First Bank MBA Scholarship	Must be enrolled in the first year. Family income less than or equal to 6 lakhs p.a. INR 1 lakh will be given p.a.
BML Munjal University MBA scholarship	Only for students applying to BML Munjal University. Variable amount based upon CAT/XAT/GMAT percentile.
Merit cum Means Scholarship for Professional and Technical Courses (Minorities).	Students belonging to minority communities. Scored at least 50% or equivalent in previous final exams. Family income must not exceed 2.5 lakhs p.a (all sources combined).
Post Graduate Scholarship for Professional Courses for SC/ST.	Students studying in the first year of the professional course at the post-graduate level. Eligible for receiving grants in aid from the University Grants Commission (UGC).
IMT EWS Scholarships	EWS students who are enrolled in any AICTE-approved two-year PGDM program.
YES Future Ready scholarship	Yes Bank provides financial assistance to 30 students (2 lakh each). Candidates are shortlisted based on academic performance. They further need to undergo an online test, submit an essay, and appear in an interview for final selection.
Merit Scholarship by Management Development Institute (MDI), Gurugram	At the end of the second year, best-performing students are awarded a merit scholarship of INR 10,000

Frequently Asked Questions:(FAQs)

Ques. What are the top scholarships for MBA programs in India?

Ans. There are numerous scholarships available, so it depends on your background and goals.

Ques. Are there scholarships for both government and private institutions?

Ans. Yes, Both government and private institutions offer scholarships for MBA programs.

Ques. Do private institutions offer scholarships for MBA programs?

Ans. Many top private institutions offer merit-based scholarships, need-based scholarships, and scholarships for specific demographics.

Ques. How can I find scholarships offered by private institutions?

Ans. The best way is to visit the websites of the B-schools you're interested in and search for their scholarship sections. They often detail eligibility criteria and application processes.

Ques. Are there any scholarships specific to private institutions?

Ans. Yes, some scholarships are offered directly by private institutions and might have unique criteria based on the institute's focus or priorities.