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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 

    1. Institute-Based MBA Scholarships – These types of scholarships are offered by B-schools and the likes of IIMs, XLRI, MDI, SPJIMR, TAPMI, et al.
    2. Government Sponsored Scholarships – The kind of scholarships that are offered by institutes like the IIMs, the IITs, and other government-funded institutes.
    3. Corporate Sponsored Scholarships – These include scholarships like the OP Jindal Scholarship, Aditya Birla Scholarship for MBA, etc.
    4. 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.

    MBA Scholarships Best MBA Scholarships MBA Scholarships in India
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