MBA Scholarships in India & Abroad

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MBA Scholarships in India and Abroad

An MBA degree can help in transforming you into a professional executive in your field of interest and equipping you with the necessary skills as well as exposure. But in many cases, students with stellar profiles and academic backgrounds lack funding. In such scenarios, MBA scholarships for students turn out to be the antidote. In India and abroad, a plethora of scholarships are available which aim to enable students belonging to the economically weaker arena, to live up to their dream of acquiring quality education from esteemed universities. Here are some of the best MBA scholarships for Indian students.

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MBA Scholarships Abroad

There are numerous academic institutions around the world that provide MBA scholarships for international students wanting to pursue this sought-after degree program. Below we have elaborated on some of the major scholarships that you need to consider while applying for an MBA degree abroad:

  • INSEAD Deepak and Sunita Gupta Endowed Scholarship by INSEAD Business School 
  • Harvard University-Boustany Foundation MBA Scholarship
  • UWE Bristol MBA Scholarship by the University of the West of England, Bristol
  • Oxford Pershing Square Scholarship by Pershing Square Foundation
  • Weidenfeld-Hoffman Scholarship and Leadership Program by Weidenfeld-Hoffmann Trust in partnership with The Said Business School, University of Oxford
  • University of Chicago Booth School of Business
  • AICPA John L. Carey Scholarship Award
  • International Council of Shopping Centers Foundation — Edward J. DeBartolo, Sr. Graduate Scholarships

Related Read: MBA Abroad for Indian Students

INSEAD Deepak and Sunita Gupta Endowed Scholarship by INSEAD Business School 

For students with an exceptional academic background and limited financial aid, this scholarship can provide them with the necessary financial aid to gain a world-class education. Offered by the INSEAD, this MBA Scholarship provides an amount of EUR 25,000 (around 19,60,000 INR) for this degree course at the institution.   

Key Features

  • The application starts between the month of January and February. 
  • Applicants must belong to a developing nation.
  • Documents to demonstrate financial need.
  • Proof of salary (last salary slip or letter from the previous employer).
  • Scholarship essay (300 words maximum).
  • Bank statement for last three months.

Harvard University-Boustany Foundation MBA Scholarship

Financial funding can prove to be an obstacle if you are aspiring to obtain an MBA degree from an elite institution like Harvard University. This is where the BF MBA scholarship turns out to be the best option to get the right funding for your chosen Master of Business Administration degree. The selected candidate will get funding of USD 95,000, i.e. USD 47, 500 (34,26,300 INR approx.) along with accommodation and travel allowances for an internship at Boustany Foundation.

Key Features

  • Applicants must have a higher GMAT score.
  • Excellent academic background.
  • Curriculum Vitae, Acceptance Letter from the University, and Photographs are essential while applying for the scholarship.

UWE Bristol MBA Scholarship by the University of the West of England, Bristol

Provided by the University of the West of England, the Bristol MBA scholarship is one of the popular scholarships which equips students with the financial help of 50% of the total tuition fee for 1 year. But the students must have the equivalent of British 1st or 2:1 in an undergraduate degree.

Key Features

  • Lucrative score in IELTS or equivalent English language proficiency tests like TOEFL, PTE, etc.
  • At least 3 years of work experience in corporate entrepreneurial practice.
  • New students at UWE Bristol with no previous study record in the UK.
  • Not enrolled in any other scholarship.
  • A Personal Statement 

Oxford Pershing Square Scholarship by Pershing Square Foundation

Do you want to enroll in the 1+1 MBA program offered by the University of Oxford but are caught up by financial constraints? Out of the wide range of MBA scholarships, you can target the OXPS Scholarship offered by the Pershing Square Foundation. The 5 selected scholars will be provided with full assistance in tuition fees along with aid for living expenses. 

Key Features

  • Students must fulfill all the eligibility criteria under the 1+1 MBA Program.
  • Approximately INR 13,50,000 for living expenses for 2 years.
  • Candidates have to submit a scholarship essay.

Weidenfeld-Hoffman Scholarship and Leadership Program by Weidenfeld-Hoffmann Trust in partnership with The Said Business School, University of Oxford

The aspirants wanting to get enrolled in the MBA course available at The Said Business School can choose MBA scholarships as a medium of entry if and only if they are facing issues regarding funding. The selected students will get a complete tuition fee waiver as well as some assistance in living expenses of approximately INR 13,70,000. 

Key Features

  • A one-page CV containing academic credentials and relevant work experience.
  • GMAT or GRE score report
  • A score on the English language proficiency test like IELTS, TOEFL, etc
  • 2 compulsory essays (500 and 250 words each)
  • Professional/academic references (1 each)

Apart from these, here are some other prominent MBA scholarships for Indian students include,

The University of Chicago- Booth School of Business

This scholarship is for incoming students at the Chicago Booth School of Business. The school currently ranks #3 in its MBA program and is known for some of the most prestigious alumni. Let’s check the scholarship details here:

EligibilityChicago Booth Candidates
FundUp to full annual tuition
DeadlineSame as the Admission Deadline

AICPA John L. Carey Scholarship Award

The scholarship is for those who have obtained a liberal art or non-business degree from a university in the United States. This is especially for those who are studying graduate studies in Accounting. It is to encourage students with little to no accounting background to join the field.

EligibilityNon-Business Degree+ US Citizen
Fund$5,000 (INR 4.10 Lakhs)

International Council of Shopping Centers Foundation — Edward J. DeBartolo, Sr. Graduate Scholarships

The foundation awards scholarships to students who are enrolled in the upcoming academic year at an accredited university. The student must have at least 3 GPA with full time MBA enrollment. Refer to the table for further information:

Eligibility3 GPA+, with Shopping Centre Industry Experience
Fund$10,000 (INR 8.20 Lakh)

MBA Scholarships in Canada

Here are MBA scholarships for Indian students planning to study in Canada:

MBA Scholarships in the USA

Here are MBA scholarships for Indian students planning to study in the USA:

MBA Scholarships in the UK 

Here are MBA scholarships for Indian students planning to study in UK:

MBA Scholarships in Australia

Here are MBA scholarships for Indian students planning to study in Australia:

  • Kraft Heinz Scholarship
  • AGSM Global Reach Scholarship and AGSM Excellence Scholarship
  • Monash MBA International Women in Leadership Scholarship
  • ANU College of Business and Economics India Excellence Scholarship
  • MBS Scholarships
  • Adelaide MBA Scholarship
  • MBA (Intensive) International Prestige Scholarships
  • UOW Postgraduate Academic Excellence Scholarship
  • International Excellence Scholarship (India); South Asia Business and Law Scholarships

MBA Scholarships in India 

Here are MBA scholarships for Indian students planning to study in India:

Now, let’s take a look at the popular MBA scholarships available across Indian institutions around the country:

  • Capital First MBA Scholarship (IDFC FIRST Bank)
  • UPESMET MBA Scholarship (University of Petroleum & Energy Studies)
  • Indian School of Business Scholarships
  • Management Develop Institute Scholarships
  • Institute of Rural Management, Anand
  • NMAT Scholarship
  • MBA Scholarships by IIMs
  • ONGC Scholarship
  • Aditya Birla Scholarship
  • Saroj Sood Scholarship
  • Leverage Edu Scholarship
  • OPJEMS (O. P. Jindal Engineering & Management Scholarships)
  • BML Munjal University MBA Scholarship
  • PNB Housing Finance Protsahan Scholarship

Capital First MBA Scholarship (IDFC FIRST Bank)

The renowned IDFC FIRST Bank provides a handful amount of INR 1 Lakh (per annum) to MBA aspirants. To help those facing financial constraints fulfill their dream of pursuing an MBA, it is one of the most prestigious MBA scholarships, and the major prerequisite it demands is that the applicant must be a graduate.

Key Features

  • The applicant must be a citizen of India. 
  • The annual income of the family must be below INR 6 Lakhs.
  • Some of the important documents are: Class 10 & 12 mark sheets, address proof, aadhaar card, photograph, and Income Tax Return slips.

UPESMET MBA Scholarship (University of Petroleum & Energy Studies)

Recognized by the NACC, the University of Petroleum & Energy Studies organizes its own entrance exam UPESMET to shortlist students for its MBA scholarships. The qualified undergraduate students will receive a tuition fee waiver of 25% in 1st semester.

Key Features

  • Applicants must have completed an undergraduate program or should be pursuing a postgraduate course.
  • Minimum 80 percentile in CAT/XAT.
  • Minimum 90 percentile in UPESMET, MAT, NMAT, and CMAT.
  • Candidates will be required to submit their school certificates, college mark sheets,s and degrees.
  • Valid ID proof

Indian School of Business Scholarships

In collaboration with its various partners, Indian School of Business (Hyderabad) provides a variety of MBA scholarships in which students get shortlisted on the basis of their academic performance. Let us have a look at some of the scholarships for an MBA at ISB and the details related to them:

Provider Eligibility Conditions Amount 
Nurture IndiaSelections will be made on
the basis of the needs of the applicant 
INR 4,00,000
Citigroup  4-6 students on the basis of
merit will be shortlisted
INR 9,00,000
Novartis On both merit and need basis,
3 students are selected 
INR 4,00,000
Manhattan Review
5 students are shortlisted on
the basis of excellent
academic records 
INR 1,00,000

Management Develop Institute Scholarships

MDI, Gurugram is a notable mention in the top B-schools of the country as well as the foremost institution to get accreditation by AMBA (Association of MBAs). To provide an equivalent platform to underprivileged students and an opportunity to shape their future by acquiring an MBA degree from a leading institution, the university offers many MBA Scholarships, some of them are: 

Name of the scholarship Eligibility Criteria Amount of Aid 
O.P. Jindal ScholarshipsStudents must be in the 2nd-year
of their undergraduate program
INR 1,50,000
Merit-Based Scholarship5 students at the end of their 2nd-year INR 10,000

Institute of Rural Management, Anand

If you want to get admission to leading and unique management programs like MBA Agriculture, MBA Rural Management etc., and are facing some struggles with the funding for the tuition fee of the program, then you must consider opting for this financial aid scheme. You can easily take up the route of MBA scholarships, here are some of them available at the IRM:

Merit-Based Scholarships from
Sir Ratan Tata
5 students are selected and
provided INR 50,000 per year
GOI Scholarships to
IRMA for SC/ST students 
10 students will be selected
for the scholarship 
Scholarships for SC/ST candidates  The entire cost of education for
15 selected students belonging to
SC/ST will be funded

NMAT Scholarship

If you have a good score in NMAT by GMAC, you can avail of this scholarship. The scholarship can be used in three business schools in India:

IILM School: The school offers scholarship based on your result in NMAT. Refer to the table below for details:

NMAT ScoreScholarship
195+40% waiver on tuition fee
180-19525% waiver on tuition fee

Alliance School of Business: The school offers merit-based scholarships to students who perform well in the exam. Refer to the table to know the details:

NMAT ScoreScholarship rewardNo. of Scholarships
210+50%Top 10 students
180 to 20935%Top 10 students
160 to 17925%Top 20 students

Thapar School of Management: The school offers 75 scholarships to students based on their merit on the scholarship test.

MBA Scholarships by IIMs

Every IIM offers scholarships to meritorious students with different financial aid programs for each institute.

SchoolScholarship Offered
IIM AhmedabadIIMA Special Needs Scholarship
Scholarship for SC/ST candidates
T. Thomas Scholarship
IIM BangaloreIIMB Financial Aid
Citi Women’s Leader Award
IIMB PGP Alumni First Batch (1976) Scholarship
IIM Lucknow Need-based IIML Scholarships
Industry Sponsored Scholarships
Bharti Scholarship

ONGC Scholarship

ONGC Scholarship is for students in the General category who are a part of 1st year MBA. Refer to the table below for details:

RewardEligibility Criteria
INR 48,000 per annum is
awarded to the student with
INR 4,000 per month 
Students must belong to the General category
They must be in the first year of MBA/MBBS/ Master of Geology
Students must have at least 60% in Class 12th and graduation
The student’s family income should be less than INR 2LPA
They should be under 30 years of age

Aditya Birla Scholarship

The scholarship offered by Aditya Birla Group is for students who get selected from esteemed Indian business schools. Refer to the table below for details:

SchoolsIIM Ahmedabad
IIM Bangalore
IIM Calcutta
IIM Lucknow
IIM Kozhikode
IIM Indore
IIM Shillong
XLRI Jamshedpur
RewardINR 1,75,000 per annum
TestCAT Exam Results

Some other scholarships for students wanting to seek an MBA degree in India are:

  • National Dairy Development Board Scholarship
  • Scholarships form the Ministry of Tribal Affairs 
  • ISB@10 Global Scholarship
  • 100% scholarship by the Amity University 
  • 50% scholarship by the Amity University
  • SRM Founder’s Scholarship
  • Merit Scholarship SRM
  • Merit-Cum-Means- Scholarship SRM
  • Scholarship for Physically Challenged / Differently Abled SRM
  • Scholarships for Merit SRM 

MBA Scholarships for Women

Here are some of the top MBA Scholarships for Women:

ScholarshipUniversityCost Covered
AGSM Women in Leadership ScholarshipsAustralian Graduate School of Management (AGSM)Minimum of two scholarships, each with a value of
AUD$50,000 (INR 27.64 Lakh)
The 30% Club Female Business Leaders ScholarshipAlliance Manchester Business SchoolOne full-fee scholarship and mentorship
MBA in International Management Scholarship for Women LeadersESCP Europe Business School€15,000 (INR 13.49 Lakh)
Women in Management ScholarshipEuroMBAUp to €10,000 fee reduction
(INR 8.99 Lakhs)
IE Women’s Leadership ScholarshipIE Business School30 percent of all costs

Without a doubt, an MBA from a reputable international business school distinguishes your profile on the job market. You can lessen the financial strain you will have to bear while attending this degree by finding a solid MBA scholarship. MBA counselors at Leverage Edu can assist you with choosing the best business school and MBA specialization, assessing your profile, writing your application essays, preparing you for interviews, and much more if you wish to pursue an MBA abroad with funding from the US, UK, Canada, or Europe.

Must Read: National Scholarships


How can I obtain a scholarship for an MBA abroad?

You need a minimum GMAT score of 600 or above to be eligible to apply for MBA scholarships overseas. It is advised to have a score of 700 or more if you plan to apply to some of the top business schools that provide MBA scholarships in order to receive the best award.

Is a 100% MBA scholarship available?

You can, indeed. A good GMAT score simply improves your chances of receiving a scholarship, even if scholarship committees do not specify a minimum GMAT score to ensure one. Find out what the minimum GMAT score is to qualify for an MBA scholarship.

Can I get a free MBA?

Yes, leading business schools provide a number of different subjects with various scholarship programme.

Thus, we hope that this blog has helped you explore the plethora of MBA scholarships offered in Indian as well as international universities. If you are aspiring to opt for an MBA but don’t know which specialization or university to choose, take the assistance of our Leverage Edu experts will guide in finding an ideal program as well as an institution along with helping you throughout the admission process to ensure that you get successfully shortlisted into your dream degree!

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