FINANCIAL AID
IIMB extends financial aid to students in need of assistance. The objective of the Financial Aid Policy at IIMB is to ensure that no student is deprived of an education at the institute for financial reasons.
All PGP students with annual household income below INR 800,000 are eligible to apply for financial aid. Other students with severe financial difficulties arising from sudden unforeseen circumstances are also considered.
The Financial Aid Committee undertakes a two-step process for deciding the number of awardees and quantum of aid. In the first stage, the students are given a financial status score based on four criteria – Annual Gross Household Income (including income of the student if employed before joining IIMB and outstanding loans if any, provided they were not taken for conspicuous consumption), Household Savings, Real Estate Assets, and Other Assets. Based on this score, some of the students are called for a personal interaction with a faculty panel. During these interactions, faculty panels evaluate the financial need of the student, as well as establish the genuineness of the details provided by the student in the application and assign a financial need score. Based on the weighted average of these two scores, applicants are provided 100%, 80%, 60%, 40% or 20% financial aid.
SCHOLARSHIPS
In addition to the Financial Aid, which is provided purely on the basis of financial need, PGP students also receive several Merit based or Merit-cum-Need based scholarships as detailed below:
1. Aditya Birla Scholarship: This merit-based scholarship is given to PGP students of both the first and the second years. The students who are granted the scholarship during the first year are eligible to apply for renewal in the second year, provided they belong to the top 25% of the batch in the first year. The scholarship amount is INR 1.75 lakh per student.
2. OPJEMS Scholarship: This merit-based scholarship is given to PGP students of second year. The first ten toppers of the second year, based on the academic performance in the first year, are eligible to apply. On the basis of an online test conducted by OP Jindal Group, one student of each academic year will be awarded. The scholarship amount is INR 1.50 lakh.
3. NTPC Scholarship Scheme: The scholarship amounts to INR 48,000 per year. Students who belong to SC/ST/PwD categories and are in their second year of management studies, having passed the first-year examination in one attempt, are eligible for the scholarship.
4. Employment in Social Sector Scholarship: This scholarship reimburses the recipient one-third of the fees at the end of each year of work for the first three years in the social sector.
5. Ministry of Tribal Affairs Scholarship (ST): The Ministry of Tribal affairs, Government of India, invites applications for the National Scholarship for Higher Education for Scheduled Tribe students of PGP first year. This is a means scholarship that covers tuition expenses in full.
6. Ministry of Social Justice and Empowerment Scholarship (SC): The Ministry of Social Justice and Empowerment, Government of India, invites applications for the National Scholarship for Higher Education for Scheduled Caste students from Meritorious SC students PGP first year. This is a means scholarship that covers tuition expenses in full.
7. Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD): A person with disability having not less than 40% disability and having a disability certificate issued by any competent medical authority. This is a means scholarship of INR 255,000 per year.
Apart from the above scholarships, students can also apply for other State Government Scholarships routed through financial aid and scholarship office.
Alumni scholarship awarded on the day of the PGP inauguration is as follows :
| NAME OF THE SCHOLARSHIP | CRITERIA |
| Siddharth Padam Scholarship | A candidate from the DML list with the highest CGPA in the Eco and F&A related core courses in the PGP first year |
| IIMB PGP Alumni First Batch (1976) Scholarship | A woman DAP candidate(a man DAP if women candidate is not eligible) who has completed first year PGP successfully |
| Runwal Educational Trust scholarship |
Students who are in the top 40% at the end of the first year and financial aid score of the students who have applied for financial aid in the first year is compared and common candidates from these two list are identified. . A weighted average sore is calculated by applying 30% to their CGPA and 70% to their FAS |
| Srimati Saraswati Kulkarni Prize for Excellence in Entrepreneurship | Awarded to the student with a top CGPA in the entrepreneurship course |
|
Ubuntu Scholarship |
Awarded to PGP 2nd year student with a minimum of 2.0 CGPA at the end of first year. This is on a merit cum means basis. Candidate should have applied for financial aid too. Student meeting these 2 criteria along with highest financial need overall score will be awarded the scholarship |
| Nitin Agarwal Scholarship |
Need based scholarship - Given to student who has received no other financial aid/scholarship. A student with highest financial aid score below the financial aid scholarship cut off will be selected for this scholarship. Given in PGP 2nd year during the MBA orientation program. |
| Deepankar Khiwani Scholarship | To two PGP student based on Merit cum Means |
| PGP class of 1989 scholarship | Awarded to the student who has received no other financial aid/scholarship. It is a means scholarship |
| Smt Parvathi and Sri Vedula Krishnamurthy Scholarship award | A student who is on the DML with highest CGPA in competition & strategy, Business Govt & Society & entrepreneurial learning rank list (PGP 2nd Year) |
| PGP 1998 Batch Scholarship | Provide scholarships for 4 students who are admitted in the category of differently abled. Merit cum needs scholarship. |
| Parameshwara Iyer Award | Awarded to the student who has received no other financial aid/scholarship. It is a means scholarship |