IDFC First Bank Scholarships for MBA Students 

5 minute read

The IDFC First Bank Scholarships is a program run by the IDFC First Bank to encourage and support students who are willing to pursue MBA. IDFC First Bank was founded by the merger of  IDFC Bank and Capital First in December 2018. The students under the IDFC First Bank Scholarships program will be awarded INR 2 Lakh for each academic year to cover tuition fees for their MBA Program.

Scholarship Type  Need-based 
Conducting Authority  IDFC First Bank 
Reward Amount  INR 2 Lakhs 
Official Website

The award amount is given to the student who is meritorious and needs funds to complete his/her MBA post-graduation. Let us explore all the important information related to the IDFC First Bank Scholarship Program. 

IDFC First Bank Scholarship Eligibility Criteria 

The IDFC First Bank scholarship eligibility criteria for the students are mentioned below respectively. Students willing to apply for the scholarship must go through the eligibility criteria attentively. 

  • The candidate must be an Indian citizen only. 
  • Students who have enrolled on the 2-year MBA program
  • The annual family income of the candidate must be less than INR 6 Lakhs. 
  • The candidate must be 35 years or below of age. 

Also Read: All India Scholarship 2023: Latest Notification (Out), Eligibility, Application Process

IDFC First Bank Scholarship Application Process 

The steps for the application to the IDFC First Bank Scholarship Program are mentioned below. Students must go through all the steps attentively before applying. 

  • Visit the official portal.  
  • Click on the ‘Apply Now’ link available. 
  • Start filling in all the required information. 
  • Upload all the documents. 
  • Check all the details before submitting the application. 
  • Click on the ‘Submit” button to complete the application. 

IDFC First Bank Scholarship Required Documents 

There are a few documents that are necessary while applying for the scholarship program. The list of documents is mentioned below. 

  • Identity proof such as an aadhaar card, voter ID etc. 
  • Candidate’s passport-size photograph.
  • Admission proof of the candidates with the name of the institution/university and the admission year and batch. 
  • A printed copy of the fee receipt.
  • A printed copy of the graduation mark sheets and certificate. 
  • For income proof, students can apply for the salary slips of their parents, a copy of Income Tax Returns (Form 16A) and an Income certificate issued by the relevant government authorities. 
  • Other necessary documents such as a disability certificate, loan sanction letter, and death certificate (if applicable). 

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 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 or 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


What is the selection process for the  IDFC First Bank Scholarship? 

The students will have to first apply online and submit all required documents. After screening all the applications, the IDFC First Bank will select the top 350 candidates for the scholarship. 

What is the application fee for the  IDFC First Bank Scholarship program? 

There is no such application fee for the IDFC First Bank Scholarship Program. 

What is the main aim of the IDFC First Bank Scholarship Program? 

The main aim of the IDFC First Bank Scholarship Program is to provide awards to students who are willing to pursue MBA, a 2-year program. To help them complete their MBA program with the funds. This is mostly given to students who belong to financially weak families. 

We hope the above-mentioned details regarding the IDFC First Bank Scholarships program will be helpful for the students who are willing to apply for the scholarship.

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