IDFC FIRST Bank MBA Scholarship [Up to Rs 2 Lakh] The IDFC FIRST Bank MBA Scholarship is a need-based initiative aimed at supporting meritorious Indian students from economically disadvantaged backgrounds to pursue a two-year full-time MBA or equivalent program at recognized institutions across India. IDFC FIRST Bank MBA Scholarship is a need-based scholarship for students with family income of less than 6 lakhs per annum. The purpose of this scholarship is to make post graduate studies in business management accessible to meritorious students who are unable to pursue higher studies due to financial constraints.
Contents
Eligibility Criteria for IDFC FIRST Bank MBA Scholarship
To be eligible for IDFC FIRST Bank MBA Scholarship an applicant must meet the following requirements:
Students from PAN India level can apply for this scholarship
The annual family income of the applicant from all sources should be less than Rs 6 Lakhs per annum.
It is only Applicable for students enrolled in first year of the two-year MBA program.
The applicant must be enrolled in any of the MBA colleges mentioned in the scholarship website check the list.
The applicant should be no more than 35 years of age on the date of his/her application.
The applicant must have a valid mobile number linked to Aadhaar card.
Benefits of IDFC FIRST Bank MBA Scholarship
The selected students of MBA will receive scholarship sum of Rs 2 Lakh for two years of full-time MBA studies (INR 1 lakh per annum, subject to terms and conditions*).
Related link:
- Top 100 Scholarships for the 12th class.
- Top Scholarship for Engineering Students
- Top 100 Scholarships for B.Sc students
Documents required for IDFC FIRST Bank MBA Scholarship
There are a few necessary documents that the applicants must keep with them while filling the IDFC FIRST Bank MBA Scholarship application form. The candidates must upload scanned copies of the following documents to complete their application process:
- Admission letter (with name of institution, admission year and batch)
- Copy of fee receipt
- Copy of Graduation Mark sheet or Passing certificate
- Annual Family Income Certificate
- Disability Certificate (if applicable)
- Sanctioned Loan 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
- Aadhar Card as Identity Proof
- Recent Passport Sized Photograph
Last Date
The application will open soon.
Application Process for IDFC FIRST Bank MBA Scholarship
- Click on “Apply Now” and register with your email and mobile number.
- Check your eligibility and get your Aadhaar card and mobile number verified.
- A welcome communication containing login URL, user ID, and password will be sent to the applicants.
- Fill out the online application form with academic, personal, and financial details.
- Upload scanned copies of the required documents.
- Submit the application and wait for confirmation.
Note: IDFC FIRST Bank does not charge any application fees at any stage of the process. If you are asked to pay, please report it to mbascholarship@idfcfirstbank.com.idfcfirstbank
Selection Process for IDFC FIRST Bank MBA Scholarship
Application Screening:
The first stage of the IDFC FIRST Bank MBA Scholarship selection process involves a thorough screening of all submitted applications. During this stage, the bank carefully evaluates the applicant’s academic records, income documents, and overall eligibility criteria as per the scholarship guidelines. Only those candidates who meet the required conditions and submit complete and accurate information move forward to the next stage of the selection process.
Document Verification:
In the document verification stage, the authenticity and accuracy of the submitted documents are carefully checked. Bank officials may conduct physical verification, if required, to confirm the applicant’s financial background and eligibility status. This step ensures transparency and helps maintain the credibility of the IDFC FIRST Bank MBA Scholarship selection process.
Personal Interview:
Shortlisted candidates under the IDFC FIRST Bank MBA Scholarship may be invited to participate in a personal interview. The interview process helps assess the candidate’s background, educational goals, and genuine financial need. It also allows the selection panel to interact directly with applicants before making the final decision.
Final Selection:
The final selection for the IDFC FIRST Bank MBA Scholarship is made at the sole discretion of IDFC FIRST Bank. After considering all stages, including screening, verification, and interviews (if conducted), the bank determines the final list of selected scholars. The decision made by the bank is final and binding.
Note: Children of IDFC FIRST Bank employees are not eligible for this scholarship
Important link:
- Benefits of Online MBA
- MBBS Abroad with Scholarships
- Study in Germany for free for Indian Students
- Masters in UK Fully Funded
Frequently Asked Questions – IDFC FIRST Bank MBA Scholarship
1. What is the IDFC FIRST Bank MBA Scholarship?
The IDFC FIRST Bank MBA Scholarship is a need-based financial assistance program designed to support deserving Indian students. It aims to help students pursuing a two-year full-time MBA or equivalent program at selected institutions in India. This scholarship reduces the financial burden of tuition fees and encourages talented students from economically weaker backgrounds to complete their management education successfully.
2. Who is eligible to apply for IDFC FIRST Bank MBA Scholarship?
The IDFC FIRST Bank MBA Scholarship is open to Indian nationals who are residing and studying in India. Applicants must be enrolled in the first year of a two-year full-time MBA or equivalent program at a recognized institution. Additionally, the gross annual family income of the applicant should not exceed ₹6 lakh from all sources.
3. What is the scholarship amount and duration of IDFC FIRST Bank MBA Scholarship?
Under the IDFC FIRST Bank MBA Scholarship, selected students receive total financial assistance of ₹2,00,000. This amount is distributed over two academic years, with ₹1,00,000 provided per year. The scholarship amount is specifically meant to cover tuition fees and is disbursed according to the bank’s guidelines.
4. Which courses and institutions are covered?
The IDFC FIRST Bank MBA Scholarship covers two-year full-time MBA or equivalent programs such as PGDM or MMS. Only selected and approved institutions across India are eligible under this scholarship scheme. Students must ensure that their college is listed among the approved institutions on the official website.
5. What documents are required for the application of IDFC FIRST Bank MBA Scholarship?
Applicants for the IDFC FIRST Bank MBA Scholarship must submit essential documents to verify their eligibility. These include admission proof, fee receipt, graduation marksheet, and valid income proof such as an income certificate, salary slip, or Form 16A. Additionally, a copy of the Aadhaar card and a valid mobile number linked to Aadhaar are mandatory for completing the application process.
6. How can one apply for the IDFC FIRST Bank MBA Scholarship?
Students can apply for the IDFC FIRST Bank MBA Scholarship through the official online scholarship portal. The application process involves filling out the online form with accurate personal and academic details. Applicants must also upload all required supporting documents before submitting the application.
7. Is there any application fee to apply for the scholarship?
No, there is absolutely no application fee for the IDFC FIRST Bank MBA Scholarship. The entire application process is completely free of cost for eligible students. Applicants should be cautious of any unauthorized person asking for payment in the name of the scholarship.
8. What is the selection process for IDFC FIRST Bank MBA Scholarship?
The selection process for the IDFC FIRST Bank MBA Scholarship begins with shortlisting candidates based on eligibility criteria. After initial screening, submitted documents are verified for authenticity and accuracy. In some cases, shortlisted candidates may also be required to attend an interview before final selection.
9. When is the application deadline?
The application dates for the IDFC FIRST Bank MBA Scholarship will be announced on the official website. Interested students should regularly check the portal for updates regarding opening and closing dates. It is advisable to apply well before the deadline to avoid last-minute technical issues.
10. Can MBA students of previous batches apply for this scholarship?
The IDFC FIRST Bank MBA Scholarship is strictly available only to students enrolled in the first year of the full-time MBA/PGDM/MMS program for the academic year 2025–2027. Students from earlier or previous batches are not eligible to apply again. This ensures that the scholarship benefits new applicants in their first academic year.
11. Is it mandatory to have a mobile number linked to Aadhaar card to apply for the IDFC FIRST Bank MBA Scholarship?
Yes, it is mandatory for applicants of the IDFC FIRST Bank MBA Scholarship to have their mobile number linked to their Aadhaar card. This linkage is required for verification and authentication purposes during the application process. Applications without Aadhaar-linked mobile numbers may not be processed successfully.
12. Is this scholarship only open for Indian Nationals?
Yes, the IDFC FIRST Bank MBA Scholarship is exclusively open to Indian nationals. Applicants must be studying in institutions located within the territory of India. International students or foreign nationals are not eligible under this scholarship scheme.
13. I am pursuing my MBA through distance education/Part-time MBA. Am I eligible for this scholarship?
No, the IDFC FIRST Bank MBA Scholarship is only applicable to students enrolled in a full-time MBA program. Candidates pursuing distance learning or part-time MBA courses are not eligible. The scholarship is designed specifically to support full-time management education.
14. I am enrolled in the batch of 2023–25 MBA Scholarship but did not clear my first year. Am I eligible to apply?
If you were previously selected under the IDFC FIRST Bank MBA Scholarship and have not cleared your first year, you are not eligible to reapply. Students who are reappearing for first-year examinations cannot submit a new application. The scholarship guidelines clearly restrict reapplication in such cases.
15. How is the scholarship amount disbursed?
Under the IDFC FIRST Bank MBA Scholarship, the scholarship amount is directly transferred to the institution’s bank account. This ensures that the funds are used specifically for tuition fee payment. The second installment is released only after submission and verification of the second-year fee receipt.
16. What is the mode of application?
The mode of application for the IDFC FIRST Bank MBA Scholarship is completely online. Applicants must visit the official scholarship portal to complete the form. Offline or manual applications are not accepted under any circumstances.
17. What is the gross family income limit for eligibility?
To qualify for the IDFC FIRST Bank MBA Scholarship, the applicant’s gross annual family income must not exceed ₹6,00,000. This includes income from all possible sources of earning. Income proof documents are required to validate this eligibility condition.
18. Are children of IDFC FIRST Bank employees eligible for this scholarship?
No, children of employees working at IDFC FIRST Bank are not eligible for the IDFC FIRST Bank MBA Scholarship. This restriction ensures fairness and transparency in the selection process. The scholarship is intended solely for eligible external applicants.
19. What should I do if I have been asked to pay application fees or contacted by someone other than official representatives?
If anyone asks you to pay fees for the IDFC FIRST Bank MBA Scholarship, you should not proceed with any payment. The scholarship application is completely free and does not require any processing charges. In case of suspicious activity, you should immediately report the matter to mbascholarship@idfcfirstbank.com for verification.
20. Where can I find the list of eligible colleges for the scholarship?
The complete and final list of eligible colleges for the IDFC FIRST Bank MBA Scholarship is available on the official IDFC FIRST Bank website. This list is prepared and published by the bank and is not subject to further modification. If your institution is not listed on the website, you will unfortunately not be eligible to apply.
21. Can I apply for other scholarships along with the IDFC FIRST Bank MBA Scholarship?
Yes, students may apply for other scholarships along with the IDFC FIRST Bank MBA Scholarship, unless restricted by specific institutional rules. However, applicants should carefully read the terms and conditions of each scholarship. It is advisable to disclose all scholarship details during the application process.
22. What happens if I provide incorrect information in my application?
Providing incorrect or false information in the IDFC FIRST Bank MBA Scholarship application may lead to rejection. If discrepancies are found during document verification, the application may be cancelled. In serious cases, further action may be taken as per the scholarship guidelines.
23. Can I edit my application after submission?
Once the application for the IDFC FIRST Bank MBA Scholarship is submitted, editing options may be limited. Applicants should carefully review all details before final submission. It is recommended to double-check documents and information to avoid errors.
24. Will I receive confirmation after submitting the application?
Yes, after successfully submitting the IDFC FIRST Bank MBA Scholarship application, applicants generally receive an acknowledgment or confirmation message. This confirmation indicates that the application has been received. Students should keep this confirmation for future reference.
25. Whom should I contact for further queries about the scholarship?
For any queries related to the IDFC FIRST Bank MBA Scholarship, applicants should contact the official support email provided on the website. It is important to rely only on official communication channels for accurate information. Avoid sharing personal details with unauthorized individuals.
26. Can I apply for the IDFC FIRST Bank MBA Scholarship before securing admission?
No, applicants must have confirmed admission to a two-year full-time MBA or equivalent program before applying for the IDFC FIRST Bank MBA Scholarship. Proof of admission and fee receipt are mandatory documents during the application process. Without valid admission confirmation from an eligible institution, the application will not be considered.
27. Is there any minimum academic performance required to apply for the IDFC FIRST Bank MBA Scholarship?
While the IDFC FIRST Bank MBA Scholarship is primarily need-based, applicants must meet the admission criteria of their respective MBA institution. Academic records such as graduation marksheets are reviewed during document verification. Strong academic performance may support the application, but eligibility mainly depends on income criteria and enrollment status.
28. Can the IDFC FIRST Bank MBA Scholarship be cancelled after selection?
Yes, the IDFC FIRST Bank MBA Scholarship may be cancelled if a candidate is found to have provided false information or fails to meet eligibility requirements. The scholarship may also be withdrawn if required academic progress is not maintained as per institutional rules. Therefore, applicants must ensure complete accuracy and compliance with all scholarship guidelines.
29. How will I know if I am selected for the IDFC FIRST Bank MBA Scholarship?
Selected candidates for the IDFC FIRST Bank MBA Scholarship are informed through official communication channels such as email or notifications on the scholarship portal. Applicants are advised to regularly check their registered email ID and portal updates. Only official communication from IDFC FIRST Bank should be considered valid.
30. Does the IDFC FIRST Bank MBA Scholarship cover expenses other than tuition fees?
The IDFC FIRST Bank MBA Scholarship is specifically intended to cover tuition fees of the MBA program. The scholarship amount is transferred directly to the institution to ensure proper utilization. It does not cover additional expenses such as hostel fees, books, travel, or personal expenses unless otherwise specified by the official guidelines.
For National/International Scholarship updates kindly join our whatsApp channel
Follow the Sarsa Education channel on WhatsApp: https://whatsapp.com/channel/0029VaL9SgRAjPXJthnK9D0E
