IDFC FIRST Bank MBA Scholarship

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About the Program


IDFC FIRST Bank MBA Scholarship is a scholarship program run by IDFC FIRST Bank to financially support MBA students enrolled into the first year of a two-year full-time MBA course in the academic session 2021-23. The students selected for this scholarship program are awarded with INR 1 lakh per year to cover tuition fees of their MBA program. 

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 program forms part of its CSR initiative for the year of 2021-22. Till date, more than 650 MBA students have been awarded this scholarship from 15+ colleges across India.

  • IDFC FIRST Bank MBA Scholarship 2021-23

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

    • The applicants must be Indian Nationals residing in India only.
    • Applicable for students enrolled in first year of 2-year MBA program of starting batch of current financial year.
    • Applicants should be enrolled in any of the MBA colleges mentioned in the list attached in the FAQ section.
    • The gross annual family income of the applicants from all sources should be less than or equal to INR 6 lakhs per annum.
    • Candidates should be 35 years of age or younger at the date of application.

    The selected MBA students will be awarded a scholarship sum of INR 2,00,000 (INR 1 lakh/year) over the duration of their 2 years MBA program. 


    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 Letter (With name of institution, admission year and batch)
      • Copy of Fee Receipt
    • Academic record documents
      • Copy of Graduation marksheet/passing certificate
    • 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)
    • Other Documents (If applicable)
      • Disability certificate
      • Loan sanction letter
      • Death certificate, if there is a death of the sole earning member of the immediate family
      • Document of any other scholarships received for pursuing MBA
    How can you apply?
    • Click on the ‘Apply Now’ button below.
    • Login to Buddy4Study using a registered ID to land onto the ‘Online Application Form Page’.
      • If not registered on Buddy4Study - Register at Buddy4Study with your Email/Mobile/Facebook/Gmail account. 
    • You will now be redirected to the IDFC FIRST Bank MBA Scholarship application form page.
    • Click on the ‘Start Application’ button to begin the application process.
    • Fill in the required details in the online scholarship application form.
    • Upload the required documents.
    • 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.
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 2021-22.
  • The amount of Scholarship that will be provided under this program will be a maximum of INR 1 Lakh per student, per academic year and the scholarship amount will be only towards tuition fees of the scholars. It will be disbursed to the college account only.
  • The gross annual family income, i.e. annual income of the parents/guardians from all sources should not be more than INR 6 Lakh per annum. Students having the lowest family income shall be given preference in the ascending order.
  • Applicants pursuing 1-year executive program, integrated MBA program or any other MBA program other than 2-year full-time MBA/PGDM program are not eligible for this scholarship.
  • 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 350 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.
  • Once awarded it’s mandatory for the scholars to attend all IDFC FIRST Bank events pertaining to the scholarship.
  • 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.

In case of any queries, please reach out to:

011-430-92248 (Ext- 124) (Monday to Friday - 10:00AM to 6PM)

Frequently Asked Questions
  • What is the selection process for this scholarship?

    After applying through the online application form and submission of documents, IDFC FIRST Bank will screen all applications and select the top 350 scholars to award the scholarship.

  • I have enrolled into a 2-year PGDM program 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 program?

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

  • Can MBA students of 2020-21 or previous batch apply for this scholarship?

    No. Only students who are enrolled into 1st year of their full-time MBA/PGDM program in the academic year 2021-23 are eligible to apply for this scholarship.

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

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

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

  • I am pursuing/ applying for an executive MBA. Am I eligible for this scholarship?

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

  • Is there any application fee for this scholarship program?

    There is no application fee towards applying to 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. 

  • When will the results be declared for this scholarship?

    The results of this scholarship will tentatively be declared in September 2021. You will be notified about it through an email.  

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