10 Aug 2021 16:35 IST

IDFC FIRST Bank to offer 350 MBA scholarships

The financial assistance of ₹2 lakh is open to students across select 119 B-schools in the country

IDFC FIRST Bank has announced MBA scholarships to 350 students. The scholarships worth ₹2 lakh is provided as financial assistance to meritorious students

The programme is open to Indian students who are accepted for the MBA programme across a select 119 B-schools in the country for the 2021-23 batch. It provides ₹2 lakh as financial assistance to students from economically weaker sections of the society to help them complete their master’s degree in management. The application process is underway and will end by September 2. Started in 2016, the programme has successfully supported 677 students so far, the bank said.

Eligibility criteria

The student must be an Indian national and enrolled for a two-year full-time MBA 2021-23 batch or its equivalent in an Indian university or college that is part of the programme. The student must come from a family that has gross annual income from all sources less than or equal to ₹6 lakh per annum

Rachana Iyer, Head, Corporate Social Responsibility, IDFC FIRST Bank said, “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. The Covid-19 pandemic has caused severe setbacks to many families. Hence, this year, our scholarship programme will support 350 students, the largest since inception.”

The MBA scholarship programme was instituted as a CSR initiative by erstwhile Capital First in 2016 and continued after the merger which resulted in the formation of IDFC FIRST Bank.