Kotak Shiksha Nidhi – Financial Assistance for COVID-19 Impacted Students

Kotak Shiksha Nidhi has been implemented by Kotak Education Foundation, partner organisation of Kotak Group Companies under their CSR Project of Education & Livelihood. Under Kotak Shiksha Nidhi, students from 1st standard up to Diploma or Graduation level, who have lost primary earning member of the family due to COVID-19 will be provided financial assistance for the continuation of education. 

Who can avail financial assistance under Kotak Shiksha Nidhi? What process must be followed to apply for Kotak Shiksha Nidhi? By when can a student apply for this? What kind of financial assistance is offered under Kotak Shiksha Nidhi? How will the students be selected? What documents are required for its application? Get answers to all these questions in detail in this article further. 

Kotak Shiksha Nidhi – An Overview

The key objective of Kotak Shiksha Nidhi is to ensure the continuation of school and college education from 1st Standard up to Diploma or Graduation (ages 6 years to 22 years) at the same level as the student was undergoing prior to COVID-19 prior to tragic loss of one or both parents or primary earning member of his/her family. Thus, Kotak Shiksha Nidhi endeavours to take care of the actual expenses required for the continuation of current level of education. The table below highlights a detailed overview about the programme for your reference. 

Detailed Overview of Kotak Shiksha Nidhi 

ParticularsDetails
Name of the Financial Assistance Kotak Shiksha Nidhi 
Provider DetailCollaborative CSR Project of Kotak Mahindra Group companies, implemented by Kotak Education Foundation
Type of Financial AssistanceCOVID-19 crisis based
EligibilityStudents, who have lost primary earning member of the family due to COVID-19 (From 1st standard up to Diploma or Graduation)
Financial assistanceThe selection and quantum of assistance under Kotak Shiksha Nidhi will be based on the fulfillment of the eligibility criteria and will be at the discretion of Kotak Education Foundation.
Application ModeOnline through Buddy4Study portal
Application Timeline*Between September and March

*The application timeline mentioned above is tentative and may change at the discretion of the provider

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Kotak Shiksha Nidhi – Key Dates

When it comes to financial assistance, dates play a significant role for the students. It is very important for them to keep not of their application timeline to avoid missing out on opportunities. The application window for Kotak Shiksha Nidhi began on 20th September 2021 and will remain open till 31st March 2022 for students who have lost one parent, both parents and a primary earning member of the family due to COVID-19. 

Kotak Shiksha Nidhi – Eligibility Criteria

To avail financial assistance under the Kotak Shiksha Nidhi, the candidates are required to fulfil the following eligibility conditions –

1. Students studying in schools and colleges across India falling under any of the below categories can apply –

  • Loss of both parents due to COVID-19
  • Loss of one of the parents due to COVID-19
  • Loss of the primary earning member of the family (other than parent) due to COVID-19

2. Applicants must be school or college going students from 1st standard up to Diploma or Graduation (ages 6 years to 22 years).

Kotak Shiksha Nidhi – Financial Assistance

The selection and the quantum of assistance offered under Kotak Shiksha Nidhi will be based on fulfilment of the eligibility criteria and will be at the discretion of Kotak Education Foundation. The benefits offered under this programme – 

  • Includes Indian national students studying in schools and colleges in India.
  • Includes school & college fees, library deposit, stationery and other continuation of education relevant expenses payable to school/college, hostel lodging & boarding expenses
  • Excludes International boards such as IGCSE, IB, etc.

Kotak Shiksha Nidhi – Application Process

If you find yourself eligible for Kotak Shiksha Nidhi, you can proceed with its application online through Buddy4Study portal. You can simply follow the steps given below to make a successful application – 

Step 1: Visit the scholarship page of Kotak Shiksha Nidhi. 

Step 2: Read all the details carefully and click on the ‘Apply Now’ button under the ‘How can you apply?’ section to proceed. 

Step 3: Login to Buddy4Study using registered ID to land onto the ‘Online Application Form Page’. If not registered, please register using an Email/Mobile/Gmail account.

Step 4: A separate application instruction page will open. Read the instructions carefully and click on the ‘Start Application’ button. 

Step 5: Fill in all the required details in the application form and upload all relevant documents. 

Step 6: Accept the ‘Terms and Conditions’ and click on the ‘Preview’ button to check if all the details filled are correctly showing or not. 

Step 7: If all the details in the preview are correct, click on the ‘Submit’ button to complete the application.

Kotak Shiksha Nidhi – Documents Required

While applying for Kotak Shiksha Nidhi, the applicants are required to upload certain set of documents in support of their application. These documents include – 

  • For minor applicant (under 18 years): Minor applicant’s Aadhaar Card along with identity proof of the parent/guardian of the minor applicant: Aadhaar Card, Voter Identity Card, Driving License, PAN Card
  • For applicants over 18 years: Aadhaar Card, Voter Identity Card, Driving License, PAN Card.
  • Current academic year admission proof such as fee receipt/ bonafide letter/institution ID card/admission letter and mark sheet of previous class grade (optional)
  • Death certificate of primary earning member(s), parent, parents
  • Proof of death due to COVID-19 such as hospital receipt, doctor prescription, COVID-19 test report, medical bills for COVID-19 medication, hospital discharge summary, etc.
  • Reference from two (2) persons who are aware of the family’s crisis (can be a school teacher, doctor, head of school, college, or a government officer, etc.), if required
  • Bank account details of the applicant, if the beneficiary student (applicant) is above 18 years
  • Bank account details of the applicant’s parent or guardian, if the beneficiary student (applicant) is a minor
  • Passport size photograph of the applicant and the guardian

Kotak Shiksha Nidhi – Selection Criteria

Mere fulfilment of eligibility conditions and filling the application form does not guarantee your selection for this financial assistance. The selection process for Kotak Shiksha Nidhi will be based on the financial situation of the applicant’s family and crisis document submitted by them. The selection will be done in a multi-stage process as detailed below – 

1. Selection of applications will be based on the proof of crisis documents submitted by the applicant, in priority order given below –

  • Loss of both parent(s) due to COVID-19
  • Loss of one of the parents due to COVID-19
  • Loss of primary earning member of the family due to COVID-19

2. Shortlisted applicants will have to appear for a telephonic interaction and document verification check after which the final selection will be made.

3. Selection and Shiksha Nidhi (financial assistance) amount will be at the discretion of Kotak Education Foundation.

Kotak Shiksha Nidhi – Renewal

The continuation of Kotak Shiksha Nidhi for subsequent years is subject to various factors such as students need for continued assistance, academic progress and no disciplinary issues. These factors will be periodically reviewed by Kotak Education Foundation basis which further continuity of Kotak Shiksha Nidhi will be decided. 

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Kotak Shiksha Nidhi – About Kotak Mahindra Group 

Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd (KMBL).

Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June, 2021, Kotak Mahindra Bank Ltd has a national footprint of 1,612 branches and 2,591 ATMs, and branches in GIFT City and DIFC (Dubai). For more information, please visit the Company’s website at https://www.kotak.com 

The following Kotak Mahindra Group Companies are collaboratively funding their CSR Project on Education & Livelihood Project – Kotak Shiksha Nidhi, which is being implemented by Kotak Education Foundation

  • Kotak Mahindra Asset Management Company Limited (KMAMC) 
  • Kotak Mahindra Capital Company Limited (KMCCL)
  • Kotak Mahindra Investments Limited (KMIL)
  • Kotak Mahindra Prime Limited (KMPL)
  • Kotak Mahindra Trustee Company Limited (KMTCL) 
  • Kotak Infrastructure Debt Fund Limited (KIDFL) 
  • Kotak Investment Advisors Limited (KIAL)
  • Kotak Securities Limited (KSL)

Kotak Shiksha Nidhi – About Kotak Education Foundation 

Kotak Education Foundation (KEF) was established on 14th January, 2007 with a mission to address urban poverty through education & livelihood initiatives. KEF works in the impoverished areas of Mumbai – slums of Deonar, Govandi Chembur, Kurla, Dharavi, etc to empower children and youth from the underprivileged families through various education and vocational skills training initiatives to make them employable and lead a life with dignity. 

Kotak Shiksha Nidhi – Contact Details

In case, you have any queries related to the eligibility, application process, selection criteria and documents required for Kotak Shiksha Nidhi, feel free to reach out through the contact details given below –

Email: kotakshikshanidhi@buddy4study.com 

Phone: +91-11-430-92248 (Ext: 263)