ICAI Increases CA Scholarship Fund to ₹500 Crore – Boost for Aspirants

Scholarships for students with financial needs (final, intermediate, and foundation) were revised; the Corpus Christi fund was increased fivefold.

To provide financial support to aspiring Chartered Accountants across India, the Institute of Chartered Accountants of India (ICAI) approved a substantial increase in its scholarship programs. The ICAI Council not only revised the monthly scholarship amounts for students at different levels of the Chartered Accountancy program, but also increased the total scholarship fund fivefold, from Rs 100 million to Rs 500 million.

This important initiative aims to promote inclusion and ensure that deserving and meritorious students, regardless of their economic background, can embark on the rigorous CA journey more easily.

Breakdown of Revised Scholarship Schemes

1. Merit Award – Final Students

This scholarship is aimed at students with high academic achievement. It will be awarded to those who achieve the 1st to 10th place in the Intermediate Examination. The scholarship amount has been increased from ₹2,500 to ₹5,000 per month. This measure recognizes and rewards academic excellence at a crucial stage of the AC course.

1. Economically Needy Students Scholarship – Merit-Based (Final Students)

This category supports those who rank 11th to 50th in the Intermediate Examination and come from economically disadvantaged backgrounds.

The scholarship amount has been increased from ₹2,000 to ₹4,000 per month.

The parental income threshold for eligibility has also been increased from ₹3 lakhs to ₹5 lakhs per year.

1. Economically Needy Students Scholarship – Intermediate and Final Levels

For those without an academic degree, the ICAI has also revised the general scholarship support for Intermediate and Final-level students from families with limited incomes.

The scholarship amount has increased from ₹1,500 to ₹2,500 per month.

The parental income limit has been increased from ₹3 lakhs to ₹5 lakhs per year.

1. Economically Needy Students Scholarship – Foundation Course

For the first time, ICAI has introduced a specific scholarship for Foundation Program students from economically disadvantaged backgrounds.

Students will be eligible for ₹1,500 per month.

The parental income limit is ₹5 lakh per year.

By reviewing income thresholds and doubling or significantly increasing monthly scholarship amounts, the institute seeks to remove the financial barriers that often discourage capable students from pursuing the CA program.

The initiative is especially significant at a time when the cost of education and maintenance is constantly rising. ICAI's decision to increase the corpus fund to Rs 500 million indicates a long-term vision to build a more inclusive and equitable professional landscape in the accounting field.