IDFC FIRST Bank MBA Scholarship

IDFC FIRST Bank MBA Scholarship

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Last updated on: 11-Aug-2020

About the Program

IDFC FIRST Bank MBA Scholarship is a scholarship programme to financially support MBA students enrolled into the first year of a two-year full-time MBA course in the academic session 2020-22. The students selected for this scholarship programme are awarded with INR 1 lakh per year to cover tuition fees of their MBA programme. 

IDFC FIRST Bank was founded by the merger of IDFC Bank and Capital First in December 2018. The Bank provides a range of financial solutions to individuals, small businesses and corporates. IDFC FIRST Bank has a nationwide presence and operates in the Retail Banking, Wholesale Banking and other banking segments. The scholarship programme forms part of its CSR initiative for the year of 2020-21.

  • IDFC FIRST Bank MBA Scholarship 2020-22 Deadline31-Jul-2020

    IDFC FIRST Bank Scholarship applicants must fulfil the following eligibility criteria:

    • Open for Indian Nationals residing in India only.
    • Gross annual family income from all sources should be less than or equal to INR 6 Lakh per annum 
    • Applicable for students enrolled in first year batch of 2020-22 of MBA degree (or its equivalent)
    • Applicant should be enrolled in any of the MBA colleges mentioned in the list attached in the FAQ section
    INR 1 lakh per annum (2 years)
    How can you apply?

    Eligible candidates can apply for the scholarship through the following steps:
    Step 1: Visit the IDFC FIRST Bank MBA Scholarship 2020-22 application link by clicking on ‘Apply Now’ button.
    Step 2: Login/Register using Facebook, Gmail or Buddy4Study E-mail account. 
    Step 3: Once signed in, click on 'Start Application' to start filling the form. 
    Step 4: Fill in all the details and upload the required documents.
    Step 5: Finally, click on 'Submit'.

    Closed on31-Jul-2020
Terms and Conditions
  • The Scholarships are open for studies in India and for Indian Nationals only.
  • The Candidates applying for the scholarship under this program should be pursuing MBA and/ or would be applying for MBA during the academic year 2020-21.
  • The amount of Scholarship that will be provided under this program will be a maximum of Rs 1 Lakh per student, per academic year and the scholarship amount will be only towards tuition fees and books.
  • The gross annual family income, i.e. annual income of the parents/guardians from all sources should not be more than Rs 6 Lakh per annum. Students having the lowest family income shall be given preference in the ascending order.
  • Candidates will be required to upload documents, e.g. Income Tax Returns of their parents/guardian(s) or in the alternative, Bank Statements of parents/guardian(s).
  • The final acceptance of the proposed candidates shall be on the basis of internal due diligence and checks done by the IDFC FIRST Bank Selection Panel and will be at all times subject to its management decision.
  • The final disbursement of Scholarship amount to the applicant's college/university shall be on the basis of the fee receipt evidencing part payment, submitted by the applicant. Receipt of the balance amount paid towards fees out of the Scholarship disbursed, shall be produced to the IDFC FIRST Bank immediately on payment thus being made. Further, these fee receipts shall be retained with the beneficiaries and submitted along with other documents for availing the Scholarship for the consecutive academic year, as the case may be.
  • The candidates who are selected for the Scholarship will be intimated by the IDFC FIRST Bank via email.
  • The IDFC FIRST Bank reserves the right, in its sole discretion, to the fullest extent permitted by law: (a) to reject or disqualify any application; or (b) subject to any written directions from a regulatory authority, to modify, suspend, terminate or cancel the scholarship, as appropriate.
  • The scholarship application is open to only those desirous candidates who have all the requisite certificates and mark-sheets at the time of making the application. No provisional application will be entertained on any undertaking to the effect or otherwise that certificates and/or required documents will be furnished at a later stage.
  • IDFC FIRST Bank reserves the right, to use the photograph /profile of the scholarship applicant/beneficiary for future publication use; and/or disclosures; and/or for communication purposes with IDFC FIRST Bank 's stakeholders as this initiative is under the Corporate Social Responsibility (CSR) of IDFC FIRST Bank; and/or for submissions before various authorities and interested parties from time to time for reporting progress thereof; and/or for use in corporate brochures, websites, archives and other material publicity, if any in relation to CSR activities.
  • As there shall be only 150 beneficiaries granted the scholarship under this program, IDFC FIRST Bank reserves the right to stop the application process post achieving the final number of scholarships to be granted in a particular year, hence there will be no due date for closing applications.
  • The students who receive the Scholarship should be regular in attendance and excel in performance for which the yardstick shall be decided by the competent authority of the school/college/university as also abide by the rules and regulations of such Institute. Intimation to the university of the availed scholarship is mandatory and shall be accompanied by a request made by the beneficiary to the university for reporting the progress of the beneficiary/student to IDFC FIRST Bank. The beneficiary shall complete this documentation and furnish a copy to IDFC FIRST Bank before disbursement of the scholarship.
  • In case of selection for the award of scholarship under this program, the awarders should not be the recipients of any other scholarships, from any other sources - Government, Corporate Private Bodies, Trusts, etc.
  • The scholarship shall be cancelled/discontinued forthwith and the amount of the scholarship paid shall be recovered, at the discretion of the concerned department of IDFC FIRST Bank if
    • (a) A student is found to have obtained a scholarship by false statement/certificates.
    • (b) A student violates any of the terms and conditions of the scholarship.
    • (c) A student does not attend classes of the course or is found to be in violation of the Institutes' rules and regulations.
    • (d) Fails to obtain and maintain minimum performance/passing standard as required by the university authorities and/or affiliates.
    • (e) Any misconduct on the part of the beneficiary, decision whereof will be at the sole discretion of the selection panel of IDFC FIRST Bank.
  • This scheme and scholarship shall be evaluated at regular intervals by IDFC FIRST Bank and terms and conditions thereof may be modified, withdrawn or cancelled without prior notice to the applicants at the discretion of the selection Panel of IDFC FIRST Bank.
  • IDFC FIRST Bank reserves its right to independently verify and assess the claims made by candidates/beneficiaries regarding their family financial status and other criteria.
  • This is a beneficiary scheme as part of the Corporate Social Responsibility of IDFC FIRST Bank and is not as a matter of right to be claimed by candidates of economically weaker sections of society or otherwise. Candidates shall not have the right to raise any disputes regarding the scholarship with IDFC FIRST Bank and shall have no right to claim any amounts or initiate any proceedings against IDFC FIRST Bank in respect thereof.
Frequently Asked Questions
  • What is the selection process for this scholarship?

    The scholarship will be awarded based on the financial needs of the applicants. The scholars will be selected based on first-level shortlisting of candidates followed by telephonic/personal interview.

  • What are the documents required for IDFC FIRST Bank MBA Scholarship 2020-22?

    Below is the list of documents that need to be uploaded before the final submission of the application form:

    • Personal Information documents
      • Applicant's photograph
      • Identity Proof (Aadhar Card, Voter ID Card, Driving License)
    • Admission related documents
      • Admission Proof (Admission Letter/ID Card/Fee Receipt)
    • Academic record documents
      • Copy of Class 10th Marksheet
      • Copy of Class 12th Marksheet
      • Copy of Graduation Marksheet
    • Income Proof (any one)
      • Copy of Salary Slip (Parents)
      • Copy of Income Tax Returns (Form 16A)
      • Income Certificate issued by relevant government authority (Tehsildar or Magistrate)
  • I have enrolled into a 2-year PGDM programme this year. Am I eligible for this scholarship? How do I know whether my college is among the listed institutions from where the applications are allowed for this scholarship programme?

    Yes. Students enrolled into 2-year full-time MBA or equivalent programmes, including PGDM programmes, are eligible to apply for this scholarship provided they belong to any of the B-schools listed in the document attached below.

  • Can MBA students of 2019-21 batch apply for this scholarship?

    No. Only students who are enrolled into the 1st year of their full-time MBA/PGDM programme in the academic year 2020-22 are eligible to apply for this scholarship.

  • I want to pursue MBA through distance education. Am I eligible for this scholarship?

    No, the scholarship is only available for students who are already enrolled in 1st year of their 2-year full-time MBA programme.

    Note: Applicants pursuing executive MBA are not eligible to apply for this scholarship.

  • Is there any application fee for this scholarship programme?

    There is no application fee to apply for this scholarship.

  • Where do I apply for this scholarship?

    The scholarship application is only hosted on Buddy4Study. The scholarship application link is officially available on IDFC FIRST Bank website as well. 

  • What will be the process of the interview?

    All the shortlisted applicants will have to undergo a telephonic interview process.  If required, this will be followed by a face-to-face interview for the final selection of scholars.

  • When will the results be declared for this scholarship?

    The results of this scholarship will tentatively be declared by the end of August 2020.  

  • Which are the eligible colleges for IDFC First Bank MBA Scholarship?

    The list of eligible colleges for IDFC First Bank MBA Scholarship can be found here

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All the information provided here is for reference purpose only. While we strive to list all scholarships for benefit of students, Buddy4Study does not guarantee the accuracy of the data published here. For official information, please refer to the official website. read more

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