IIM Indore Scholarship: Overview, Eligibility, Benefits and More

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IIM Indore Scholarship: Eligibility and Benefits

IIM Indore belongs to a group of the most prestigious B-schools in India. While known for its high-quality education, it also comes with a hefty tuition fee, especially for students from economically weak sections of society. So if you want to study at IIM Indore without any financial burden, this blog will help you discover financial aid and some scholarships provided by the renowned institute. We will also cover their eligibility criteria and the rewards and benefits offered by them. Read on to know more!

LocationIndore, India
ProgrammesPGP, IPM, EPGP, PGPMX, FPM (Management), FPM (Industry)
Students1,200+ students from India and abroad
Highest Package Offered (2023)INR 1.14 crore

List of IIM Indore Scholarships

IIM Indore is primarily known to support its students’ education through Need-based Financial Assistance (NBFA). The institute also offers numerous scholarships sponsored by the Central and State governments and private sectors. Let’s explore each of these schemes, their eligibility, and benefits one by one:

Need-based Financial Assistance

The PGP Executive Committee and NBFA Committee at IIM Indore are responsible for offering NBFA to students coming from low-income families. Given below are the eligibility criteria they need to fulfil to avail of this financial aid:

  1. The applicant must be enrolled in any one of these courses:
  1. The applicant’s annual family income must not exceed INR 9 lakh.
  2. You must have availed of a bank education loan to pursue PGP/IPM/PGP HRM.

Selection process: Whether the applicant is eligible for financial assistance is further determined by the following selection process conducted by the respective committees:

  1. First stage: The NBFA Committee will evaluate the student’s application form and supporting documents to assess the financial need of the applicant.
  1. Second stage: Based on the first stage assessment, the potential applicants are called for a personal interaction with the NBFA Committee. During the personal interaction, the applicant’s financial need will be further assessed. The following factors are also considered by the NBFA Committee when awarding financial aid:
  • Academic performance
  • Extracurricular activities and achievements.
  • Disciplinary record
  1. Final selection: Based on the assessment of the previous stages, the NBFA Committee will select the applicants who will be awarded financial aid.


  1. Tuition fee reimbursement: NBFA scholarship recipients receive reimbursement of their tuition fees, either partially or fully, depending on their family income.
  1. Interest subsidy on educational loans: NBFA scholarship recipients receive an interest subsidy on their educational loans, which reduces the overall cost of their education.
  • For income < INR 4.5 lakh – 100% interest on the sum of money borrowed from the bank is reimbursed.
  • For INR 4 lakh < income< INR 9 lakh – 50% interest on the sum of money borrowed from the bank is reimbursed.
  1. Other financial assistance: NBFA scholarship recipients may also receive other forms of financial assistance, such as bursaries and grants, to help cover the cost of their living expenses and other educational expenses.

Also Read: Sonu Sood IAS Scholarship 2024: How to Apply, Registration, Benefits, Eligibility

IIM Indore Scholarships Provided By Central Government

In addition to NBFA, there are numerous IIM Indore scholarships sponsored by the Central and State governments. Here’s a list with their eligibility criteria and amount/benefits:

Central Sector Scholarship for SC/ST StudentsStudents belonging to the SC/ST categories with a gross family income of < INR 4.5 lakhsFinancial aid is provided on merit basis
Minority Welfare Scholarship (Merit-cum-Means)Students with an annual family income of < INR 2.5 lakhFinancial aid is provided on a merit basis
Swami Vivekananda Scholarship (SVMCM)Classes 11 and 12, post-graduates, graduates, M.Phil and Doctoral studentsINR 1000- 8000 per month
Schindler Igniting Minds ScholarshipClass 12 in Science with a minimum of 65% marks
Family income should not exceed 2 lakh p.a.
INR 20,000
Chaatravriti Scholarship YojanaClass 12 with at least 60% marks
IIM Indore Merit-Cum-Means ScholarshipMinimum 50% marks in 12 class
Applicant must belong to the Minority category
Must get admission in the professional course through a Common Admission process
INR 1,000 for 10 months, and a reward of INR 20,000 additionally to pay the tuition fee
IIM Indore Central Sector ScholarshipApplicant must have passed class 12 with 75% marksFor UG courses – INR 1,000 per month for 3 years
For PG courses – INR 2,000 per month
IIM Indore AICTE Pragati Scholarship for GirlsFemale candidates in 1st-year courses from any of the AICTE-approved collegesTuition fee waived
INR 30,000 reimbursement for purchasing books, vehicles, laptops
IIM Indore Vidyasiri ScholarshipPost-matric students from backward classesINR 1500 per month

IIM Indore Scholarships Provided By Industries

Apart from the government, many industries in the private sector also sponsor IIM Indore scholarships. Some of them are as follows:

ScholarshipEligibilityAmount/ Benefits
Aditya Birla ScholarshipMeritorious students in the top 25 percentile of their classINR 1,75,000 per student
OPJEMS Scholarships
Meritorious 2nd year students in the top 20 percentile of class based on their previous year’s grades/ CGPAINR 1,25,000 per student
SBI scholarshipsBased on the student’s academic performanceINR 1,50,000
Eicher ScholarshipsBased on the student’s academic performanceINR 50,000
Uday Nayak ScholarshipShortlisted second-year studentsINR 10,000
T Thomas ScholarshipShortlisted second-year studentsINR 1,00,000
Rajesh Kaushik Memorial Scholarship3 students were shortlisted based on academic excellence, leadership qualities, and willingness to serve the community and study further in the same fieldINR 1,50,000 per annum
Cognizant Technology Solutions – B’izard ScholarStudents in need are nominated by the institute and shortlisted based on interviews.Winner: INR 3 lakhs, 1st Runner-up: INR 2 lakhs 2nd Runner-up: INR 3 lakhs
Societe Generale Global Solution Centre India ScholarshipStudents in need nominated by the institute and shortlisted based on interviews.Full tuition fee waiver

Also Read: Aikyashree Scholarship 2024: Amount, Scholarship Status, and Last Date

How to Apply?

To apply for IIM Indore scholarships, you will need to follow the steps below:

  1. Make sure that you meet the eligibility criteria for the scholarship(s) that you are interested in. 
  2. Download the application form for the scholarship(s) that you are interested in. Fill out the application form completely and accurately.
  3. Attach all of the required documents to your application form. 
  4. Submit your completed application form and required documents to the IIM Indore Admissions Office. The deadline for submitting scholarship applications is usually in August.
  5. Once you have submitted your application form, the IIM Indore Admissions Office will review your application and make a decision. You will be notified of the decision by email

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Q1. Can I get a full scholarship in IIM Indore?

Ans. Yes, you can get a full scholarship in IIM Indore through the Need-Based Financial Assistance (NBFA) scheme.

Q2. Can I get 100% scholarship for IIM?

Ans. Yes, you can get a 100% scholarship for IIM through the NBFA scheme. However, you will have to fulfil the eligibility criteria set by the institute.

Q3. How much scholarship can I get in IIM Indore?

Ans. The amount of IIM Indore scholarships will vary depending on your financial need. However, the NBFA scheme can provide financial assistance of up to INR 4,50,000 per annum.

So this was all about IIM Indore scholarships. We hope that this blog provides you with all the information regarding the same. To discover more scholarships to study in India, make sure to subscribe to Leverage Edu. Thank you for reading!

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