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Dream Big, Pay Less: Exciting MBA Scholarships in 2024
by
BML Munjal University
May 10, 2022
MBA Scholarships 2024 – An MBA or Master of Business Administration is a programme that is equally desired by not only fresh graduates but professionals too. On the one hand, while it offers a professional launch pad to the fresh graduates, it’s close to imperative for the professionals to climb up the corporate ladder faster. Though people from diverse backgrounds seek to pursue an MBA, it doesn’t become a reality for many, as the degree requires the students to dig deep into their pockets. Given that an MBA is a costly affair, the various scholarships offered by the B-schools, corporations or the government come to their rescue.
En route to an MBA admission, appear myriad questions to the seekers’ minds, including – What kind of scholarships are available? Which would be the best fitting MBA scholarship in 2024 for me? Where to find top MBA scholarships in 2024? How do you apply for MBA scholarships in 2024? To address every such query regarding the top and best MBA scholarships, we have compiled a list of MBA scholarships in 2024 for your reference.
The article takes you through the MBA scholarships in 2023-2024 in India. It doesn’t cater to the MBA scholarships 2024 offered by any other country apart from India.
Types of MBA Scholarships in India in 2024
- Institute-Based MBA Scholarships – These types of scholarships are offered by B-schools and the likes of IIMs, XLRI, MDI, SPJIMR, TAPMI, et al.
- Government Sponsored Scholarships – The kind of scholarships that are offered by institutes like the IIMs, the IITs, and other government-funded institutes.
- Corporate Sponsored Scholarships – These include scholarships like the OP Jindal Scholarship, Aditya Birla Scholarship for MBA, etc.
- Bank-Sponsored MBA Scholarships – The likes of scholarships offered by PNB Housing Finance and IDFC.
Top MBA Scholarships in 2024 – What does this article cater to?
Through this article, aspiring MBAs will get access to the names of the top MBA scholarships in 2024, eligibility criteria, scholarship amount and the offering organisation. As we take you through the MBA scholarships in 2024, let’s begin with the IIMs first.
MBA Scholarships at IIM Ahmedabad
When we discuss the IIMs, IIM-A always stays at the helm. The scholarships offered by IIM Ahmedabad include IIMA Special Need-Based Scholarships, SC/ST Scholarships, IIMA Exit Scholarships, Scholarships offered by the Government of India, Scholarships offered by Alumni, Shri GC Mital Entrepreneurship Aid, Aditya Birla Group Scholarships, Dunia Scholarships for scholastic excellence, OP Jindal Engineering and Management Scholarship, T. Thomas Scholarship, etc. Let’s know all the details about MBA Scholarships at IIM Ahmedabad.
IIM Ahmedabad MBA Scholarships
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| IIMA Special Need-Based Scholarships | All students admitted to PGP & PGP-FABM whose gross annual family income is below Rs.15,00,000 during the previous financial year | NA | IIM-A |
| SC/ST Scholarships | SC/ST students | Rs. 150 per month for 10 months | IIM-A |
| SC/ST Scholarships {Central Sector Scheme for Top Class Education (merit-cum means)} | Meritorious SC/ST students whose family income does not exceed Rs. 4,50,000 per annum | NA | Government of India |
| Minority Welfare Scholarship (Merit-cum-Means) | Students from minority communities whose family income does not exceed Rs.2.50 lakhs per annum | NA | Government of India |
| Scholarships for Students with Disabilities {Central Sector Scheme for Top Class Education (Merit-cum-Means)} | Meritorious DA/PWD students whose family income does not exceed Rs.6,00,000 per annum. | NA | Government of India |
| PGP Alumni Endowment Funds | 9 PGP 1 & PGP/FABM II students from economically and socially challenged backgrounds, based on their financial status. | Rs. 200,000 – 300,000 | IIM-A Alumni |
| Class of PGP 2001, Peri Viswanath Scholarship | One student in the PGP/PGP-FABM | Rs.200,000 per year, and the scholar will get Rs.400,000 over 2 years. | IIM-A Alumni |
| Shri GC Mital Entrepreneurship Aid | One graduating student of PGP/PGP-FABM who intends to start own venture, opting out of the IIMA placement process with an educational loan of a minimum of Rs.100,000 and those with a combined family income below Rs.800,000 per annum. | Rs.200,000 (Every year) | IIM-A Alumni |
| Smt. J Nagamma Memorial Award | Awarded to one PGP first-year student at the end of the first year as a merit scholarship based on academic performance | Rs.15,000 | IIM-A Alumni |
| Aditya Birla Group Scholarships | Three meritorious PGP I and PGP II students | Rs.175,000 per student per year | Aditya Birla Group |
| Dunia Scholarships for scholastic excellence | Merit scholarship (2), each to PGP-Is and PGP-IIs. | Rs.100,000 | Dunia Finance LLC, Dubai, UAE |
| OP Jindal Engineering and Management Scholarship | One/two second-year PGP students on the
basis of academic performance, an online test and a personal interview |
Rs.150,000 per student per year | OP Jindal Group |
| T. Thomas Scholarship | A second-year student based on merit-cum-means criteria. | Rs.100,000 per year | Hindustan Unilever Ltd. |
MBA Scholarships in 2023-2024 – IIM Bangalore Scholarships
Like IIM Ahmedabad, IIM Bangalore also offers financial assistance to students so that the deserving ones are not deprived of the opportunity to pursue PGP programmes. All PGP students at the institute whose family annual income is below Rs. 8,00,000 are eligible to apply for financial aid. Check here for the details of all MBA scholarships offered at IIM Bangalore.
MBA Scholarships 2024 at IIM Bangalore
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Aditya Birla Scholarship | PGP students of both the first and the second years, provided they belong to the top 25% of the batch in the first year. | 1.75 lakh per student | Aditya Birla Group |
| OPJEMS Scholarship | PGP students of the second year (The first 10 toppers of 2nd year based on academic performance in 1st year) are eligible. However, they have to take an online test
conducted by OP Jindal Group. 1 student of each academic year will get the scholarship. |
Rs. 1.50 lakh | OP Jindal Group |
| Citi Women’s Leader Award | Top 25% of the batch, shortlisted at the end of the first year. Selection is on the basis of the Statement of Purpose and subsequent interviews. | Covers the second year’s tuition expenses | Citi Group |
| Societe Generale Global Solution Centre India Scholarship | Selection is from the neediest applicants in the first year and on the basis of subsequent interviews. | Covers tuition expenses in full | Societe Generale |
| Siddhartha Padam Award | PGP student who is on the Director’s Merit List and gets the highest CGPA in the Economics, Finance, & Accounting core courses in the 1st year. | Rs. 50,000, a medallion and a certificate | NA |
| IIMB PGP Alumni First Batch (1976) Scholarship | Differently-abled female student (or a differently-abled male student, in case there is no eligible female student). | Rs. 75000, a medallion and a certificate | IIM-B PGP Alumni |
| Runwal Education Trust Scholarship | A PGP student (On the basis of the combination of academic performance and the student’s financial need in 1st year). | Rs. 100000, a medallion and a certificate | Runwal Education Trust |
| Hindustan Unilever / T Thomas Scholarship | One PGP second-year student | Rs 1 lakh | Hindustan Unilever |
| Yes Bank Scholarship | Students should be among the top 20 students as per the admission criteria, should belong to the top 20% of the batch on the basis of the current CGPA and should be members of at least one student committee. | Rs. 2 lakhs | Yes Bank |
| NTPC Scholarship Scheme | Students who belong to SC/ST/PwD should be in their second year of management studies passed the 1st year in one attempt. | Rs. 48,000 per year | NTPC |
| Employment in Social Sector Scholarship | NA | One-third of the fees is reimbursed at the end of each year of work for the first three years in the social sector. | NA |
| Ministry of Tribal Affairs Scholarship (ST) | PGP first year | Covers tuition expenses in full | Ministry of Tribal Affairs |
| Ministry of Social Justice and Empowerment Scholarship (SC) | Meritorious SC students PGP first-year | Covers tuition expenses in full | Ministry of Social Justice and Empowerment |
| Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD) | A person with at least 40% disability with a disability certificate by any competent medical authority. | Rs. 2,55,000 per year | Ministry of Social Justice and Empowerment |
IIM Calcutta MBA Scholarships
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Bharati Scholarship | 1st term result and entry point merit list | Rs 50,000 | NA |
| Nestle Scholarship For Young Business Managers | Based on managerial values, co-curricular activities, extra-curricular activities & academic consistency | Rs 100,000 | Nestle |
| Aditya Birla Scholarship | Based on academic excellence and leadership qualities throughout the tenure 1st year results and overall performance. | NA | Aditya Birla Group |
| Institute MCM Scholarship | Academic excellence and parental income | Rs 2000 per student, per month | NA |
| GE Scholarship | 1st year result and CAT performance | Rs 2,80,000 per candidate | GE |
Other Scholarships at IIM Calcutta
| Scholarship Name (First Year) |
| BP Poddar Scholarship |
| TT Krishnamachari Award |
| India Carbon Scholarship |
| BPL Prize |
| Damodar Valley Corporation Award For Creditable Performance |
| Aditya Kashyap Memorial Scholarship (for 1st rank holder) |
| Central Bank of India Prize For Best Performance In Finance Course |
| PR Karthik Scholarship |
| Scholarship Name (Second Year) |
| Chairman’s Prize |
| Dr BC Roy Memorial Gold & Silver Medals |
| John Wynne Prize |
| IIM Calcutta Sponsored Scholarships |
| ABC India Award |
| BS Dua Memorial Prize for 2nd Rank holder |
| Calcutta Port Trust India Award |
| Balmer Lawrie Award |
| Magunta Subbarama Reddy Award |
| TIL Scholarship |
| IIMC Alumni Association, Calcutta Chapter Prize |
| IIMC Alumni Association, Calcutta Chapter Award for Outstanding Academic Performance in PGDM |
| Late Sumantra Ghoshal Award for Academic Excellence for receiving the highest CGPA at the end of PGDM |
| Aditya Kashyap Memorial Scholarship for highest CGPA in Compulsory & Elective Courses |
| 100% Grant to training institutions for skill training to handicapped persons with a stipend of Rs 2000 per person per month |
Top MBA Scholarships in 2024
Besides the prestigious IIMs, some top private business schools and the likes of BML Munjal University also offer a wide range of MBA scholarships. We have listed here the top MBA scholarships offered by BML Munjal University, along with the eligibility and scholarship amount.
MBA Scholarships 2024 by BML Munjal University
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Merit Scholarships | 75 percentile and above in the CAT/XAT/GMAT/GRE or around 206 and above in the NMAT | 50%/ 25% and 10% based on the academic merit announced by the Committee | BML Munjal University |
| Dean’s Scholarship | 90 percentile and above in CAT/XAT/GMAT/GRE or 251 and above in NMAT | 100% of the Tuition Fee in the first year (Maximum 2 students)
75% of the Tuition Fee in the first year (Maximum 2 students) |
BML Munjal University |
| Haryana Domicile Scholarship | 25% of students who are admitted under the Haryana Domicile category | Full or partial fee concession | NA |
| Defence Ward Scholarship | Students from families of defence personnel. | 10% Tuition Fee Waiver for the entire duration of the programme of study | NA |
| Sports Scholarship | Eligible students who are outstanding sports professionals | 25% to 100% on Tuition Fee depending upon State level, National level or International level participation. | NA |
Other Scholarships Offered by BML Munjal University
| Ishan Uday Scholarship offered by University Grant Commission (UGC) for North Eastern Region. |
| Scholarship by the Ministry of Human Resource Development (MHRD). |
| Hero Group Employees Ward’s Scholarship for the wards of serving employees of the Hero Group companies. |
| Sports Scholarship in recognition of talented young sportspersons for meritorious applicants. |
| The Early Cycle Scholarship is for new applicants applying for postgraduate courses in the early cycle of admission. |
| All Central & State Government Scheme/Scholarships. |
| Defence Ward’s Scholarship for the wards of serving and retired armed forces officers and other ranks |
MBA Scholarships in 2023-2024 – IIM Lucknow
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Need-Based IIML Scholarships | 15% students from a batch based on their family income (less than INR 4,00,000 LPA) and previous academic performance. | The tuition fee if the academic year in which the scholarship is awarded | IIM-L |
| Industry Sponsored Scholarships | Students shortlisted from each year on the basis of their academic performance | From Rs.6,000 to Rs.100,000 p.a. | NA |
| Merit-cum-Means Scholarships | 25% of the students subject to specified norms | Rs.2200 per student p.a. | NA |
| Bharti Scholarship | Students with annual income less than Rs1.08 lacs from both 1st and 2nd year | Rs.50,000 p.a. | NA |
| SC/ST Scholarships | All SC/ST students | Rs.1500 p.a. | NA |
| Other Scholarships | Students shortlisted based on family income. Their fees and maintenance charges are taken care of by the government of the domiciled state. | NA | NA |
IIM Indore MBA Scholarship
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Need-Based Financial Assistance | All students of PGP, PGP HRM (PGPH) and IPM with annual family income below INR 4,50,000 | Determined from case to case (Not fixed) | IIM Indore |
MBA scholarships at IIM Shillong in 2024
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Need-Based Financial Assistance | Economically weak MBA students based on annual gross family income, participants’ liquidity, creditworthiness and overall suitability. | Determined from case to case (Not fixed) | IIM Shillong |
| SC/ST Scholarships | All SC/ST students pursuing PG programmes. | NA | Govt. of India |
| Merit Cum Means Scholarship | First and second-year students of PG programmes | As per norms and conditions of GOI | Govt. of India |
IIM Tiruchirapalli MBA Scholarships
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Merit cum Means Scholarships | Students belonging to minority communities | NA | IIM Trichy |
| SC and ST Scholarships | SC/ST students | NA | Govt. of India |
| Central Sector Scheme of Scholarship for Top Class Education | PwD students | NA | Govt. of India |
| National Handicapped Finance and Development Corporation Scholarship Scheme | PwD/Handicapped students | NA | Govt. of India |
MBA Scholarships 2024 – IIM Kashipur
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Need Cum Merit-Based Financial Assistance | 23 students each from the first and second year whose total annual family income does not exceed Rs. 3,00,000. | Full Tuition Fees Waiver | IIM Kashipur |
| Central Sector Scholarship Scheme of Top-Class Education | Scheduled Castes Students | NA | Ministry of Social Justice and Empowerment |
| Central Sector Scholarship Scheme of Top-Class Education | Scheduled Tribes Students | NA | Ministry of Tribal Affairs |
| Merit-cum means based scholarship scheme belonging to the minority communities | Minority community students | 20,000 | Ministry of Minority Affairs |
MBA Scholarships in 2023-2024 at IIM Sambalpur & IIM Bodhgaya
IIM Sambalpur offers Need-Based Financial Assistance (NBFA) to economically backward students. This assistance is given to the students in terms of tuition fee waiver, based on their family income.
- Family Income up to 1.50 lakh – 100% tuition fee waiver
- Family Income between 1.50-3 lakh – 75% tuition fee waiver
- Family Income between 3-4.50 lakh – 50% tuition fee waiver
IIM Amritsar MBA Scholarship
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| MBA Scholarship by IIM Amritsar | First-year students of MBA based on prior academic records, performance in the MBA admission process, and diversity. | NA | IIM Amritsar |
| MBA Scholarship by IIM Amritsar | Second-year students based on academic performance and conduct during the first year of MBA with Cumulative Grade Point Average (CGPA) not less than 2.96. | NA | IIM Amritsar |
Best MBA Scholarships – IIM Visakhapatnam
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| Need-Based Financial Assistance | Students with a family annual income below Rs 5,00,000 and to those with severe financial difficulties arising from sudden unforeseen circumstances. | NA | IIM Visakhapatnam |
| Top Class Education Scheme for SC Students | Meritorious Scheduled Caste students from (i.e. of PGP first year). | Tuition fees in full | Ministry of Social Justice and Empowerment |
| National Fellowship and Scholarship for Higher Education of ST Students | First-year PGP (ST) students | Tuition fees in full | Ministry of Tribal Affairs |
| PG Scholarship Scheme for SC/ST Students by UGC | 1000 SC/ST candidates to pursue postgraduate level | NA | UGC |
Top MBA Scholarships in 2024 – IIM Nagpur
| Scholarship Name | Eligibility Criteria | Scholarship Amount | Offered By |
| IIM Nagpur Need Cum Merit Scholarship | Candidates with a family income of less than Rs 5 lakh | NA | IIM Visakhapatnam |
| IIM Nagpur Merit Scholarship | Candidates securing 95%ile or above in CAT | Tuition fees in full | Ministry of Social Justice and Empowerment |
Other Scholarships at IIM Nagpur
| Scholarships for Top-Class Education for students with disabilities |
| Top Class Education Scheme for SC Students |
| National Fellowship and Scholarship for Higher Education of ST Students |
| Chief Minister Fellowship Yojana (CMFY) – Jharkhand |
| Rajarshi Shahu Maharaj Merit Scholarship to SC students – Maharashtra |
IIM Udaipur MBA Scholarships 2024
| Central Sector Scholarship Scheme of Top Class Education for Scheduled Castes Students |
| National Fellowship and Scholarship for Higher Education of ST Students |
| Merit-cum means-based scholarship scheme belonging to the minority communities |
| Scheme of Scholarship for Top Class Education for Students with Disabilities |
| Mukhya Mantri Sarvajan Uchcha Shiksha Scheme |
Frequently Asked Questions – MBA Scholarships 2024
Q: What are the types of MBA scholarships that are generally available across all B-schools?
Ans: The most popular MBA scholarships include the institute-sponsored govt. sponsored, alumni sponsored, fee waivers, corporate and bank sponsored.
Q: Is there any merit-based scholarship offered at BML Munjal University? If yes, what would be the scholarship amount?
Ans: Yes, BML Munjal University offers merit-based scholarships to eligible candidates. The scholarship amount ranges between 10 to 50% tuition fee based on the merit list announced by the varsity committee.
Q: What are the eligibility criteria for the Dean’s Scholarship at BML Munjal University?
Ans: The eligibility criteria for the Dean’s Scholarship at BML Munjal University is 90 percentile and above in CAT/XAT or 250 and above in NMAT.
Q: Are all kinds of scholarships the same?
Ans: No, all scholarships are different in nature, and even the eligibility criteria are different.
Q: I want to know the MBA scholarship amount for the Aditya Birla Scholarship offered at IIM Bangalore.
Ans: Eligible candidates will get Rs 1.75 lakh.
Q: Is there any scholarship at BML University for Haryana Domicile students?
Ans: Yes, there is. Haryana Domicile students will get full or partial fee concessions under this category of scholarship.
