PARAS Scholarship Programme 2023-24 – Nurturing the Next Generation of Professionals

PARAS Scholarship Programme 2023-24 is a CSR initiative of TATA AIA Life Insurance Company Limited that aims to support the education of meritorious and underprivileged students. Under this programme, students who are studying in the first-year of graduation, postgraduation, or PG diploma courses in professional fields such as Commerce, Economics, Accounting & Finance, Banking, Insurance, Management, Data Science, Statistics, Risk Management and other related fields shall be entitled to receive a one-time scholarship support of up to ₹25,000.

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This article offers detailed information about the PARAS Scholarship Programme 2023-24 in terms of its application process, eligibility, documentation, and other needful information. Read further to have a detailed understanding of this scholarship and its application process.

PARAS Scholarship Programme 2023-24 – An Overview

Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region. Committed to a prosperous future, it also fulfils its Corporate Social Responsibility (CSR) by impacting society positively and this scholarship programme is one such initiative. 

The table given below consists of the essential details about the scholarship program for a quick reference.

Detailed Overview of  PARAS Scholarship Programme 2023-24

Particulars                Details
Name of the Scholarship               PARAS Scholarship Programme 2023-24
Provider Name                                               Tata AIA Life Insurance Company Limited (Tata AIA)
Scholarship Type Merit and means based
Eligibility                                              
  • Open for students studying in the first-year of undergraduate, postgraduate and PG diploma courses in Commerce, Economics, Accounting & Finance, Banking, Insurance, Management, Data Science, Statistics, Risk Management and other related fields.
  • Applicants must have secured at least 50% marks in their previous class/semester.
  • Annual family income of applicants should not exceed ₹5 lakh from all sources.
  • Students from pan India are eligible to apply.
Award Up to ₹25,000 
Last Date to Apply* December 15, 2023
Application Mode Online through Buddy4Study portal
Academic Session 2023-2024

*The application deadline mentioned above is tentative and may change at the discretion of the scholarship provider. 

PARAS Scholarship Programme 2023-24 – Key Dates

Now, with this brief piece of information, it is important to have knowledge of some other details. But before referring to them, the candidates are necessarily required to keep track of the important dates of application to this scholarship programme. The applications for PARAS Scholarship Programme 2023-24 are currently open. The last date to submit the application forms is December 15, 2023.

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PARAS Scholarship Programme 2023-24 – Eligibility

PARAS Scholarship Programme for Undergraduate Students 2023

  • Open for students studying in the first-year of undergraduate courses such as B.Com., BBA, B.Sc., B.A. and BBI in Commerce, Economics, Accounting & Finance, Banking, Insurance, Management, Data Science, Statistics, Risk Management and other related fields.
  • Applicants must have secured at least 50% marks in their previous class/semester.
  • Annual family income of applicants should not exceed ₹5 lakh from all sources.
  • Students from pan India are eligible to apply.

NOTE: 

  • Children of TATA AIA employees/leaders/agents/distribution partners etc and Buddy4Study employees are not eligible to apply.
  • Preference will be given to economically backward students from Scheduled Castes (SC), Scheduled Tribes (ST), Persons with Disabilities (PwD) and girls.
  • Preference will be given to COVID-affected students who have lost any of their earning members/parents since January 2020 or whose earning family members have lost livelihood/employment during the pandemic.

PARAS Scholarship Programme for Postgraduate Students 2023

  • Open for students studying in the first year of graduate programs such as B.Sc., B.Com., BBI, B.A., BBA or postgraduate courses such as M.Com., M.Sc., M.A., etc. in Commerce, Economics, Accounting & Finance, Banking, Insurance, Management, Data Science, Statistics, Risk Management and other related fields.
  • Applicants must have secured at least 50% marks in their previous class/semester.
  • Annual family income of applicants should not exceed ₹5 lakh from all sources.
  • Students from pan India are eligible to apply.

NOTE: 

  • Children of TATA AIA employees/leaders/agents/distribution partners etc. and Buddy4Study employees are not eligible to apply reference will be given to economically backward students from Scheduled Castes (SC), Scheduled Tribes (ST), Persons with Disabilities (PwD) and girls.
  • Preference will be given to COVID-affected students who have lost any of their earning members/parents since January 2020 or whose earning family members have lost livelihood/employment during the pandemic.

PARAS Scholarship Programme for PG Diploma Students 2023

  • Open for students studying in the first-year of PG Diploma courses in fields such as Commerce, Economics, Accounting & Finance, Banking, Insurance, Management, Data Science, Statistics, Risk Management and other related fields.
  • Applicants must have secured at least 50% marks in their previous class/semester.
  • Annual family income of applicants should not exceed ₹5 lakh from all sources.
  • Students from pan India are eligible to apply.

NOTE: 

  • Children of TATA AIA employees/leaders/agents/distribution partners etc. and Buddy4Study employees are not eligible to apply.
  • Preference will be given to economically backward students from Scheduled Castes (SC), Scheduled Tribes (ST), Persons with Disabilities (PwD) and girls.
  • Preference will be given to COVID-affected students who have lost any of their earning members/parents since January 2020 or whose earning family members have lost livelihood/employment during the pandemic.

PARAS Scholarship Programme 2023-24 – Award Details

  • PARAS Scholarship Programme for Undergraduate Students 2023: ₹15,000 per year
  • PARAS Scholarship Programme for Postgraduate Students 2023: ₹25,000 per year
  • PARAS Scholarship Programme for PG Diploma Students 2023: ₹15,000 per year 

PARAS Scholarship Programme 2023-24 – Application Process

Eligible candidates can apply for the  PARAS Scholarship Programme 2023-24 online by following the steps mentioned below –   

  • Visit the official scholarship page.
  • Read all the details carefully and Click on the ‘Apply Now’ button of the respective category of scholarship.
  • Login to Buddy4Study with your registered ID and land on the ‘Application Form Page’.
    • If not registered – Register at Buddy4Study with your Email/Mobile number/Gmail account.
  • You will now be redirected to the ‘PARAS Scholarship Programme 2023-24’ application form page.
  • Click on the ‘Start Application’ button to begin the application process.
  • Fill in the required details in the online application form.
  • Upload relevant documents.
  • Accept the ‘Terms and Conditions’ and click on ‘Preview’. 
  • If all the details filled in by the applicant are correctly showing on the preview screen, click on the ‘Submit’ button to complete the application process.

 PARAS Scholarship Programme 2023-24 – Key Documents

  • Passport-size photograph of the applicant
  • Attested mark sheet of the last qualified examination
  • College admission proof (Admission Letter/Institution ID Card, etc.)
  • Proof of identity (Aadhaar Card/Driving License/PAN Card, etc.)
  • Proof of address (Aadhaar Card/Driving License/Electricity Bill, etc.)
  • Proof of family income such as ITR, salary slips, income certificate by a concerned government authority, etc.
  • Attested photocopy of caste certificate issued by the competent authority (if applicable)
  • Bank details of applicants (or parents)
  • Statement of purpose/essay
  • Crisis document and disability certificate (if applicable)

PARAS Scholarship Programme 2023-24 – Selection Process

The selection of scholars for the PARAS Scholarship Programme 2023-24 is a multi-stage process where students are selected on the basis of their academic merit and financial background. It involves a multi-stage process as detailed below –

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  • Initial shortlisting of applications based on the eligibility criteria specified
  • Document verification 
  • Telephonic interview of shortlisted candidates post document verification 
  • The final selection and the awarding of the scholarship will be at the discretion of scholarship provider

Contact Details

In case one has any queries related to this scholarship programme, its eligibility, the application process, award details, or selection process, one is requested to connect through the email id given below – 

Email: parasscholarship@buddy4study.com

Phone: 011-430-92248 (Ext: 335)

COLLEGE BOARD INDIA SCHOLARS PROGRAM

Disclaimer

  1. Source of Information: Buddy4Study app compiles details on scholarships/fellowships from government websites and private scholarship sources. Links to the official sources accompany each listing detail pages.
  2. Non-affiliation: The Buddy4Study app is not associated with any government entity in India or elsewhere. When featuring government scholarships, we rely on publicly accessible information from central and state government websites in India.

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