IDFC First Bank Flagship MBA Scholarship 2023-24

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IDFC FIRST Bank Flagship MBA scholarship

IDFC Bank launched a scholarship program for MBA aspirants in the year 2016. The scholarship aims to provide financial assistance to meritorious students who cannot study at the postgraduate level due to financial constraints. IDFC First Bank Flagship MBA Scholarship is awarded to students who have secured admission to MBA courses. The scholarship is worth INR 2,00,000 for pursuing 2 years of full-time MBA. Let’s explore all the essential things you should know about the IDFC First Bank Flagship MBA Scholarship.

Scholarship TypeNeed-based
Applicable forMBA (Full Time)
Conducted by IDFC First Bank
Amount OfferedINR 2,00,000
Official websiteMBA (full-time)

Also Read: Drake University Presidential Scholarship

IDFC First Bank Flagship MBA Scholarship Eligibility

Here is the eligibility criteria set by the IDFC First Bank Flagship MBA Scholarship that an applicant needs to fulfill to avail of this scholarship program:

  1. Only Indian citizens are eligible to apply for the scholarship
  2. The candidate’s gross annual family income should be less than or equal to Rs. 6 LPA from all sources combined
  3. Candidates who have secured admission in MBA courses for the year 2023-25 are eligible
  4. Business schools should be among the list of MBA colleges specified by IDFC Bank

IDFC First Bank Flagship MBA Scholarship: How to Apply?

Candidates who meet the eligibility criteria can apply for the MBA Scholarship. The application process is online and the stepwise details are given below:

  1. All candidates must check the latest deadline on the official website.
  2. The application form is available on the online portal.
  3. Candidates must make an account on the official website.
  4. Fill in the required details and upload the mandatory documents in PDF format.
  5. Complete the application form by clicking on the submit tab. 
  6. Candidates will receive the application number on their registered mobile number or email ID.
  7. You can use the application number to track their application status.

Note: Candidates are advised to adhere to the deadlines released by the organization as applications are accepted on a first come first serve basis.

Click Here for the list of colleges eligible for IDFC First Bank Flagship MBA Scholarship

Also Read: Let’s Explore Scholarships In Europe!

Documents Required

All applicants have to submit the mandatory documents at the time of registration. Here is the list of documents you should keep handy:

Terms and Conditions 

The terms and conditions for the IDFC First Bank Scholarship are mentioned below. Students must go through the terms and conditions attentively. 

  • The candidates who are applying for the scholarship must be pursuing an MBA or would be applying for the MBA. 
  • The scholarship is only for students who are open to studies in India or Indian Nationals only. 
  • The selected candidates will be updated by an email from IDFC First Bank. 
  • The scholarship award will only cover tuition fees and books. The maximum amount provided to the students will be a maximum of INR 1 Lakhs for each academic year. 
  • The gross annual family income of the candidate should not be more than INR 6 Lakhs yearly. 
  • Students having the lowest family income will be given preference in ascending order. 
  • Students must upload all the documents, for example, the Income Tax Returns of their Parents or Guardians. Students can also attach an alternative document, that is, the Bank Statement of Parents or Guardians. 
  • The final payment reward of the scholarship will be done to the candidate’s college/university with a receipt evidencing the part payment made by the applicant. The receipt of the balance amount paid shall be given to the IDFC First Bank immediately when the payment is done. These fee receipts shall be retained safely with the beneficiaries with all other documents for the consecutive academic year. 
  • The IDFC First Bank has the right to (a) reject the application made by the applicant, (b) subject to any written discretion from a regulatory body, to modify, terminate or cancel the scholarship.  
  • The students must submit the required certificates or mark sheets at the time of application. No provisional certificates will be entertained by the authority. Students must submit all the certificates at the time of application. 
  • The IDFC First Bank has the right to use the photograph of the selected students for publication purposes or disclosures for communication purposes with stakeholders as this initiative is under Corporate Social Responsibility (CSR). It can be also used on corporate brochures, websites, archives and other material for publicity purposes. 
  • The authority has the right to close the application for the scholarships when they achieve the number of applications granted for the academic year. A total of 150 beneficiaries are granted the scholarship. 
  • The students who get selected for the scholarship must not be an applicant for any other scholarship provided by the government, corporate private bodies, trusts etc. 
  • Students who receive the scholarship must be regular in attendance and must excel in performance in the school/university/college. The student must abide by all the rules and regulations laid out by the authorities. 
  • The scholarship and scheme will be evaluated by the IDFC First Bank authority from time to time. There are chances that terms and conditions may be modified, cancelled or withdrawn without any prior notice to the applicants. 
  • IDFC First Bank authority holds the right to verify all the documents submitted by the applicants regarding their education, family financial status and other related information. 

Also Read: NSF Scholarship for Indian Students

This is all you need to know about the IDFC First Bank Flagship MBA Scholarship. Are you interested in pursuing an MBA from a university abroad? Get in touch with our Leverage Edu experts and counsellors. Call us immediately at 1800 57 2000 for a free 30-minute counselling session.

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