IDFC FIRST Bank MBA Scholarship 2024: Apply Online & All Details

IDFC FIRST Bank MBA Scholarship Apply Online & Registration Form | Benefits & Features | IDFC FIRST Bank MBA Scholarship View Amount & Last Date | IDFC FIRST Bank MBA Scholarship Registration & Login Portal | View Online Status & All Details |

The IDFC FIRST Bank MBA Scholarship offers a generous amount of Rs. 2,00,000 for 2 years to support students pursuing a Master’s in Business Administration. This initiative, introduced by IDFC FIRST Bank, aims to assist individuals seeking to advance their education in the MBA program. It presents an exciting opportunity for aspiring MBA students to pursue their academic and career goals with financial assistance.

Today through this article we will provide you with all types of information about this scholarship like Purpose, Eligibility Criteria, Benefits, Features and important Documents etc. Apart from this, we will share with you the process of applying online under this scholarship. To get complete information about this scholarship initiative, read this article till the end.

Introduction to IDFC First Bank MBA Scholarship

The IDFC First Bank MBA Scholarship program has taken its position as a crucial supporting system for young management aspirants in India. For the academic year 2024-25, several new changes will be found that the would-be applicants need to know in order to make the most of their potential gains.

Eligibility and Application Process

For the complete administration of the IDFC First Bank MBA Scholarship, the student needs to meet certain requirements of eligibility that have been well specified. The general requirements of eligibility for applicants include showing excellence in previous academic pursuits and having a financial need. The process is done by submitting an online form with required documents as a part of ensuring smooth and transparent admissions.

Important Updates for 2024-25

The IDFC First Bank MBA Scholarship has several changes that took place this year from the previous ones so that it has set a package to make the scholarship more accessible. The increased scholarship amount will cover a greater amount of tuition fee to encourage the larger set of students to apply. The deadline for application has also been extended to give the applicants the extra time needed to prepare their materials before applying for it. All the current information and guidelines can be found on their official website.

IDFC FIRST Bank MBA Scholarship 2024

The IDFC FIRST Bank MBA Scholarship is available for students pursuing or completing MBA degrees with financial assistance covering tuition costs throughout their studies. Administered by IDFC First Bank officials, the scholarship spans a two-year period. Applicants have the flexibility to apply to any college not affiliated with Emanelled, providing opportunities for diverse educational pursuits.

In exchange for receiving the scholarship amount, students can apply for this award to receive financial aid for studying for MBA degrees. About 350 candidates will be eligible to receive scholarship money from the state to be admitted to the MBA program. The applicants can also visit the official website to learn more about this.

Highlights Of IDFC FIRST Bank MBA Scholarship Scheme 

The highlights of this scholarship are as follows: –

Objectives Of IDFC FIRST Bank MBA Scholarship 

The main or major objective of launching the IDFC FIRST Bank MBA Scholarship is to help the students belonging to the financially backward communities so that they will be able to pursue or carry out MBA degree without suffering from financial instabilities. The students will be able to get admission to the full-time MBA degree course after getting the scholarship amounts.

Another objective of launching the IDFC FIRST Bank MBA Scholarship is to provide a scholarship amount of Rs. 2,00,000/- to the students wanting to undertake MBA full time degree. This scholarship will be provided to the students for getting admission to that college or university which has been empanelled. There are various colleges empanelled.

IDFC FIRST Bank MBA Scholarship Timelines 

The timelines of this scholarship are as follows:- 

List of Delegated Banks

The lists of delegated banks are as follows:-

• Erstwhile IDFC Bank LTD
• Erstwhile Capital First LTD

IDFC FIRST Bank MBA Scholarship Statistics

The statisics of this scholarship are as follows:-

Implementation Procedure

The implementation procedure for this are as follows:-

• Application: Interested candidates need to submit their scholarship application through the official website of IDFC FIRST Bank. The application form will require personal details, academic information, and an essay or statement of purpose.
• Evaluation: The scholarship committee will review all the applications received and evaluate them based on various criteria such as academic performance, leadership potential, extracurricular activities, and the quality of the essay or statement of purpose.
• Shortlisting: After the initial evaluation, a shortlist of candidates will be created based on the selection criteria. These shortlisted candidates will move to the next stage of the selection process.
• Interview: Shortlisted candidates will be invited for a personal interview. The interview may be conducted in person, via video conferencing, or through any other suitable medium. The purpose of the interview is to assess the candidate’s communication skills, problem-solving abilities, and overall suitability for the scholarship.
• Final Selection: Based on the application, evaluation, and interview, the scholarship committee will make the final selection of candidates who will be awarded the IDFC FIRST Bank MBA Scholarship. The selected candidates will be notified through email or other appropriate means.
• Disbursement: The scholarship amount will be disbursed directly to the educational institution where the student is enrolled for their MBA program. The bank will coordinate with the institution to ensure a smooth disbursement process.

IDFC FIRST Bank MBA Scholarship Selection Procedure

The selection procedure for this scholarship is designed to identify and support deserving candidates with exceptional potential. The key steps involved in the selection process are as follows:-

• Academic Performance: The scholarship committee considers the candidate’s academic performance as an important criterion. Good grades in previous academic qualifications, especially in relevant subjects, can significantly enhance the chances of selection.
• Leadership Potential: IDFC FIRST Bank values candidates who demonstrate leadership potential. Involvement in extracurricular activities, community service, or any other form of leadership experience can positively influence the selection process.
• Essay or Statement of Purpose: The quality and clarity of the candidate’s essay or statement of purpose play a crucial role in the selection process. It is an opportunity for the candidate to showcase their motivation, career aspirations, and how the scholarship will contribute to their goals.
• Personal Interview: The personal interview provides an opportunity for the scholarship committee to assess the candidate’s interpersonal skills, communication abilities, problem-solving capabilities, and overall suitability for the scholarship.
• Diversity and Inclusion: IDFC FIRST Bank promotes diversity and inclusion. The selection process aims to ensure representation from various backgrounds, cultures, and regions, providing equal opportunities to all deserving candidates.

Amount Of Benefit 

This scholarship amount will only be provided to the students who are pursuing MBA courses from the colleges or universities which have been empanelled for providing admissions for the Business based courses to the students. An amount of Rs. 2 lakhs in the form of scholarships will be provided to the students for the next 2 years. 

IDFC FIRST Bank MBA Scholarship Tenure 

The only eligibility criteria for the student is to make sure that he or she must be pursuing a Business Administration course in the Master’s degree. Students will be able to get the scholarship amount as per the duration marked or fixed by the government. The scholarship tenure will be 2 years consisting of 24 months. 

Annual Income Limit

The source of earning of the student/beneficiary’s family will also be taken into consideration whenever the student will be shortlisted for getting the scholarship amounts. The annual income of the student’s family must not exceed Rs. 6,00,000/-. Only those students will be shortlisted whose annual income value equals to this amount.

Maximum Age Limit

The age of the student must or should not exceed the that age limit that has been specified or aforesaid by the selection body for the selection of an eligible beneficiary. The student age must be 35 years or in other words the maximum age limit of the student will be 35 years of age.

Beneficiary Limitation

The Government has also set up some limitations on the selection of eligible beneficiaries who will be considered eligible for securing their registration seat under this scholarship. A target of covering around 350 students who are pursuing MBA degrees has been set up or fixed by the government as per the issued guidelines. 

Participating Colleges

Here is a list of colleges that participate in the IDFC FIRST Bank MBA Scholarship program:-

• Indian School of Business (ISB), Hyderabad and Mohali
• Indian Institute of Management (IIM), Ahmedabad
• Indian Institute of Management (IIM), Bangalore
• Indian Institute of Management (IIM), Calcutta
• Indian Institute of Management (IIM), Lucknow
• Indian Institute of Management (IIM), Indore
• Indian Institute of Management (IIM), Kozhikode
• Indian Institute of Management (IIM), Shillong
• Indian Institute of Management (IIM), Rohtak
• Indian Institute of Management (IIM), Ranchi
• Indian Institute of Management (IIM), Raipur
• Indian Institute of Management (IIM), Trichy
• Indian Institute of Management (IIM), Udaipur
• Indian Institute of Management (IIM), Nagpur
• Indian Institute of Management (IIM), Visakhapatnam
• Indian Institute of Management (IIM), Bodh Gaya
• Indian Institute of Management (IIM), Amritsar
• Indian Institute of Management (IIM), Sambalpur
• Indian Institute of Management (IIM), Sirmaur
• Indian Institute of Management (IIM), Jammu

Benefits Of IDFC FIRST Bank MBA Scholarship 2024 

The benefits of this scholarship are as follows:- 

• The students will not have to suffer from financial instabilities after getting the online registration under the  IDFC FIRST Bank MBA Scholarship. 
• Students will be able to get the scholarship amount for the next 2 years. 
• Scholars will get admission to anyone out of the empanelled colleges or universities. 
• Students will be offered an amount of Rs. 2,00,000/- for getting paid out their college fees. 
• There are around 350 students who will be able to get the scholarship amount. 
• IDFC First Bank has opened around 599 branches across the country. 
• Financial status of the student will get improved.
• One can apply online under the IDFC FIRST Bank MBA Scholarship before the last date to get timely registration.
• No one will be left out to get this scholarship amount. 
• Students will be able to build their careers in the Business field. 

Features Of IDFC FIRST Bank MBA Scholarship 2024 

The features of this scholarship are as follows:- 

• The IDFC First Bank has launched the IDFC FIRST Bank MBA Scholarship.
• This will provide a portal for the students for building their careers in the business field.
• This scholarship will be provided to students who are undertaking MBA courses. 
• A scholarship amount of Rs. 2 Lakhs will be provided to the students for pursuing MBA courses. 
• The tenure of this scholarship amount will be 2 years. 
• A target of covering around 350 students across the state has been fixed by the government. 
• For providing ease in the process of getting admissions, the government has empanelled many colleges or universities under this scholarship. 
• Students will be offered the choice of getting admission to any one college empanelled. 
• The last date to apply online under this scholarship will be updated soon. 
• For getting more information, one can visit the official website. 

IDFC FIRST Bank MBA Scholarship Eligibility Criteria 

The applicants will need to follow the mentioned below eligibility criteria for getting online registration under this scholarship: –

• The student must be an Indian Citizen. 
• The student must be pursuing an MBA course. 
• The student must have got admission to the university or college which have been empanelled or considered eligible.
• The annual income of the student must be equal to Rs. 6 Lakhs. 
• The age limit of the student must be 35 Years. 

Important Documents 

Some of the important documents to apply online under this scholarship are as follows:- 

• Aadhar Card
• DOB certificate 
• Annual Income Certificate
• Latest Passport Size Photograph 
• Marksheets 
• Bank accounts details 
• Educational Certificates 
• Active Mobile number for receiving OTPs 
• Working Email Id  for future reference 
• Latest Passport Size Photograph

Process To Apply Online Under IDFC FIRST Bank MBA Scholarship 2024 

As this scholarship has been recently launched, no such information has been received by using social networking resources. As soon as any information related to the application procedure required to apply online under the IDFC FIRST Bank MBA Scholarship will be launched, we will update you through this article otherwise the applicant can visit the Official Website.

Contact Information 

In case any queries and questions come to your mind regarding the IDFC FIRST Bank MBA Scholarship, then you may contact this mentioned office address:- 

• Office Address
  • IDFC FIRST Bank Ltd 
  • KRM Tower, 
  • 7th Floor, No.1, 
  • Harrington Road, 
  • Chetpet, 
  • Chennai – 600031,
  • Tamil Nadu,
  • India