The IDFC FIRST Bank MBA Scholarship is designed to help students who come from families with an annual income of less than INR 6 lakh. The aim is to support deserving students who face financial challenges in pursuing a two-year full-time MBA course. If selected, students will receive a total of INR 2 lakh over the two-year duration of their MBA program, with INR 1 lakh given each year.
Eligibility of IDFC FIRST Bank MBA Scholarship
– Available only to individuals who are Indian citizens and currently living in India.
– Eligible candidates are those enrolled in the first year of a two-year full-time MBA program or its equivalent for the class.
– Applicants must be studying in one of the MBA colleges specified in the attached list.
– The total yearly family income from any sources must be INR 6 lakh or less.
– Applicants must be under 35 years old at the time of applying.
– A valid mobile number linked to the Aadhaar card is a prerequisite for application.
– Successful candidates will receive a scholarship sum of INR 2,00,000 for the two-year full-time MBA studies, with INR 1 lakh awarded per annum, subject to terms and conditions.
Documents needed IDFC FIRST Bank MBA Scholarship
– For admission, you need to provide documents like proof of admission with the institution’s name, admission year, and batch, as well as a copy of the fee receipt.
– Academic records require documents such as a copy of your graduation mark sheet or passing certificate.
– To verify your family’s income, you can submit an income certificate issued by a relevant government authority (like the Tehsildar or Magistrate), a copy of income tax returns (Form 16A), or salary slips.
– Additional documents may be needed based on your situation, such as a disability certificate, sanctioned loan letter, or in case of the demise of the sole earning member, a death certificate.
– If you’ve received any other scholarships for pursuing your MBA, provide the relevant documentation.
Ways to apply for the IDFC FIRST Bank MBA Scholarship
– To initiate your application, just press the ‘Apply Now’ button.
– If you have a registered ID, log in to Buddy4Study to access the ‘Online Application Form Page.’
– If not registered, sign up on Buddy4Study with your Email/Mobile/Gmail account.
– You’ll be redirected to the official ‘IDFC FIRST Bank MBA Scholarship website.
– Read all details carefully and click ‘Apply Now.’
– Confirm your eligibility and verify your Aadhaar card and mobile number.
– After verification, a welcome communication will be sent with login details.
– Log in and complete the online scholarship application form.
– Upload the required documents.
– Lastly, submit the application form.
Terms and Conditions of IDFC FIRST Bank MBA Scholarship
- Make the scholarship available to students admitted to the 1st year of a 2-year full-time MBA or equivalent programs at selected institutions.
- Exclude applicants pursuing a 1-year executive program, integrated MBA, or any other MBA program from eligibility.
- Require document verification and on-ground screening of shortlisted applicants for final scholarship grants. Reject applicants failing to comply within the specified timeframe.
- Mandate applicants to provide details for on-ground verification to bank representatives.
- Have the scholarship amount cover tuition fees and disburse it directly to the institution/college account.
- Ensure the final disbursement occurs after the student submits the fee receipt.
- Place the selection of awardees at the sole discretion of IDFC FIRST Bank; submitting the application alone does not guarantee a scholarship.
- Oblige awardees to attend all IDFC FIRST Bank events related to the scholarship.
- Require eligibility for the second-year scholarship by passing the first year.
- Declare children of IDFC FIRST Bank employees as ineligible, and if found, reject their candidature.
- Authorize the bank to communicate future updates via email, call, or SMS when agreeing to explore a student loan.
- Conduct the official application process solely on the IDFC FIRST Bank’s website, without charging any application fees.
- Encourage reporting of any suspicious activity to mbascholarship@idfcfirstbank.com.
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