IDFC FIRST Bank has announced its MBA Scholarship programme for the batch of 2021-2023. This year, the bank will reward scholarships to 350 Indian students. The bank will reward scholarships worth two lakh rupees to each rewarding student.

The programme provides financial assistance to meritorious Indian students from economically weaker sections (EWS) of the society to help them complete their master’s degree in management. It is open to students who are accepted for the MBA program across the select 119 B-schools in India. Interested students can apply for the scholarship between August 3 to September 2.

The student must be an Indian national and enrolled for a two-year full-time MBA 2021-23 batch, or it’s equivalent in an Indian university or college that is part of the programme. They must come from a family that has a gross annual income of six lakh rupees or less.

Rachana Iyer, Head – Corporate Social Responsibility, IDFC FIRST Bank says, “We realised that the rising costs of pursuing a management degree can act as a deterrent for even the most meritorious students and thus, we instituted the MBA Scholarship Programme in 2016, to support deserving students with a scholarship amount, and help ease their financial burden.”

Started in 2016, it is the highest number of scholarships for a batch since the inception of the programme. Last year’s programme rewarded 150 students from weaker socio-economic backgrounds out of several applications that were received from across 24 states.

According to the bank, the programme has so far successfully supported 677 students from across 24 states of India. All of them have secured jobs with an average annual income of Rs 8 lakhs. “These students belong to diverse family backgrounds with parents being retired lower-income scale government employees, auto-rickshaw drivers, farmers, and other such backgrounds,” IDFC FIRST Bank said.

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