MBA in India is one of the most popular courses, guaranteeing students a high-flying career. For millions of students, it is more than simply a degree. It is a dream that lies unfulfilled due to the high costs associated with it. Given the high cost of the degree, the government colleges and the government in itself are coming up with government scholarships for MBA students in India with an aim to provide financial assistance to deserving students in the form of MBA scholarships in India. Are you an aspirant looking for a government scholarship for MBA students in India? If yes, then you must have come across questions like Where to get the scholarships? How to get it? When to apply? How to apply? Find an answer to all these questions in this article. It will acquaint you with Government Scholarship for MBA students in India in detail.
This Blog Includes:
- Government Scholarship for MBA Students in India
- Why Are Scholarships Important For Students? (BONUS)
- Top MBA Colleges in India
- Future Career Options
Government Scholarship for MBA Students in India
There are various government scholarships for MBA students that offer full-time management scholarships. Five well-known MBA scholarships available in India are listed below with their eligibility and steps to apply, have a look:
Post Graduate Merit Scholarship For University Rank Holder
The scholarship scheme tops our list of Government scholarships for MBA Students. The Government of India’s University Grant Commission (UGC) is awarding Post Graduate Merit Scholarships to university-rank holders. This program focuses on top and second-place finishers in various graduation courses across the country. The award is designed to encourage talented individuals to pursue postgraduate studies.
Who All Are Eligible:
- You should be under the age of 30.
- Must be enrolled in a post-graduate program at a university (central/state) or one of the deemed universities/private universities/25 autonomous institutions/non-UGC affiliated colleges.
- Must have received a first or second-place finish on the previous graduating exam.
- A bachelor’s degree in one of the following fields is required: life sciences, physical sciences, chemical sciences, earth sciences, mathematical sciences, social sciences, commerce, and language.
- A graduation grade point average of at least 60% is required.
The scholarship is worth INR 3100 per month for a period of two years.
How to Apply:
- Visit the website NSP.
- Read the guidelines carefully before registering.
- Then, choose your scholarship.
- Fill in the blanks with your basic information.
- Send your scholarship in and keep a copy for future reference.
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ONGC Foundation Scholarship Scheme for OBCs
In search of our next best Government Scholarship for MBA students, we have the ONGC Foundation Scholarship Scheme. The Oil and Natural Gas Company offers a variety of scholarships for OBC and other minority populations as part of its CSR strategy. Those who are currently enrolled in the first year of an Engineering/ MBBS / MBA/ Master in Geology / Geophysics full-time degree study at recognized institutions can apply for the Foundation Scheme for OBCs.
- Age should not be more than 30 years
- Nationality should be Indian
- 1st-year graduate in Engineering/1st year of Masters’s Degree in MBA
- Family income should not be more than 2 Lacs per annum
- 60% or more in 12th
The selected scholars will get a lump sum amount of INR 4,000 per month i.e. INR 48,000 per annum.
How to Apply:
- On the website, https://www.ongcscholar.org/ applicants must complete an online application form.
- To apply for a scholarship, go to the official website and choose the “Apply scholarship” option on the home page.
- Now select “ONGC Scholarship for OBC Category” from the drop-down menu.
- Fill up the needed information.
- After double-checking the form, submit it.
Post Graduate Scholarship for Professional Courses for SC/ST
The scheme was created with the social background of candidates from the poorest sections of society in mind, with the goal of providing them with the opportunity to pursue postgraduate studies in professional subjects such as engineering, technology, management, and pharmacy in Indian universities, institutes, and colleges.
- This fellowship is open to candidates who have finished their undergraduate studies and have been accepted into the first year of a professional postgraduate program.
- The applicant must be studying for a master’s degree in a regular full-time manner.
- Male applicants’ upper age restriction should not exceed 45 years, while female candidates’ upper age limit should not exceed 50 years.
Candidates accepted for PG scholarships will get a monthly scholarship of INR.5000/- (M.Tech) with a contingency grant of INR.15000/- per annum, and a monthly scholarship of INR.3000/- with a contingency grant of INR.10,000/- per annum for the length of the PG Scholarship for other courses.
How to Apply:
- Only online application forms are available for filling up.
- Students can apply for national scholarships by going to the national scholarship portal.
- To apply online, go to this link.
- Students must click on “New User/ Register” after clicking on this link.
- To register, read over all of the guidelines and then click the proceed button.
- In the registration form, fill in all of the essential information.
Merit cum Means Scholarship for Professional and Technical Courses
Moving forward, in our list of Government Scholarships for MBA Students, we have the Merit cum Means Scholarship for Professional and Technical Courses.
The Scheme’s goal is to provide financial help to underprivileged and deserving students from minority populations so that they can pursue professional and technical education.
- Belonging to minority communities such as Muslims, Sikhs, Christians, Buddhists, Jain, and Zoroastrians (Parsis).
- Students who received at least 50% or an equivalent grade in their previous final examination will be eligible for a scholarship.
- Whose parents/guardians’ annual income from all sources does not exceed INR .2.50 lakh.
- The applicant must be enrolled in a government or recognized private university, institute, college, or school in India.
- The program you are pursuing should last at least one year.
INR. 20,000/- per annum, whichever is less, subject to actuals
How to Apply:
- For online application, visit https://scholarships.gov.in
- Search for the scholarship scheme there
- Enter the required details
- Submit before re-checking the added information
Know About Scholarships for Indian Students Here!
OPJEMS (O. P. Jindal Engineering & Management Scholarships)
The O.P. Jindal Engineering and Management Scholarships comes fifth in our list of Government Scholarship for MBA students. These scholarship schemes were established by the Group in 2007. (OPJEMS). These scholarships support academic and leadership success and are given to deserving students who share Shri O. P. Jindal’s vision and principles and have the capacity to lead in entrepreneurial achievement and innovation.
- First ten best performers from each management year- a. 1st-year students: entrance exam ranking is taken into account by the college at the time of admission.
- Students in their second, third, and fourth years, based on their previous year’s academic achievements.
INR 1,50,000 for each Management Students
How to Apply:
- Visit the official website: www.opjems.com
- Click on the OPJEMS Link
- Read all the instructions carefully, and then start filling out your application
- Submit the form before re-checking the added information
Why Are Scholarships Important For Students? (BONUS)
Scholarships are given to students in recognition of their academic achievements and educational programs. Receiving a scholarship is a significant accomplishment, whether you are just starting your profession or studying in high school to develop new skills. When it comes to the financial rewards, scholarships are particularly interesting to young hopefuls who are just starting out in their professions as employees.
Furthermore, receiving a scholarship might provide access to a variety of educational institutions as well as job changes. For sincere seekers, this is a once-in-a-lifetime opportunity. Also if students leave no stone left in their preparation for the MBA admission tests, therefore a lack of financial resources should not be a barrier in the pursuit of their goals. Scholars can relieve some of the load on their shoulders by taking advantage of the MBA scholarship schemes outlined in this article and continuing to work hard for their success.
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Top MBA Colleges in India
Mentioned below are the top business schools in India with their NIRF ranking.
|Name of College
|NIRF RANKING 2022
|VGSOM – IIT Kharagpur
Future Career Options
An MBA program is divided into two categories – MBA General and Specialized. The two types of programs are structured to suit the requirements of different managerial roles. There is a huge requirement for graduates as there are numerous job profiles that require professionals with a management background. Some of the major career options for MBA graduates include:
- Managing Consultants
- Human Resource Manager
- Healthcare Management Experts
- Financial Analyst
- Marketing Professionals
- Entrepreneurship Experts
- Information System Expert
- Data Analysts
In this blog, we discussed some well-known Government Scholarships for MBA students. Are you planning to give management entrance exams for your MBA? Then, connect with Leverage Edu. We can provide you with a consultation that can help you in finding the correct way to prepare for the entrance exams and further help you in finding the right college for you. You can connect with us on Instagram, Twitter, Facebook, LinkedIn, and YouTube & also subscribe to our newsletter.