An MBA scholarship is a merit- or need-based award—offered by business schools, governments, corporations, or foundations—that helps students financially access prestigious management programs. These top scholarships for MBA can fully or partially cover tuition, living expenses, and sometimes even travel or study materials In India, leading institutions like IIMs and B‑schools (e.g., IFIM, SRM, IMT) provide scholarships based on CAT scores, academic performance, or financial hardship .
These scholarships make full-time MBAs much more accessible, supporting diverse, high‑potential candidates to accelerate their careers .Pursuing an MBA in India can be a significant investment, but numerous scholarships are available to help students manage the financial burden.
Here are some of the top scholarships for MBA students in India:
IDFC FIRST Bank MBA Scholarship 2025[Upto Rs 2 Lakh] :The IDFC FIRST Bank MBA Scholarship 2025 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. This is one of the top scholarships for MBA providing 2 lakh to selected
Amount: Rs 2 Lakh
Deadline:30 June 2025
AICTE Tuition Fee Waiver Scheme [100% Tuition Fee Waiver]:The AICTE Tuition Fee Waiver Scheme (TFWS) for 2025 is a significant initiative by the All India Council for Technical Education (AICTE) aimed at supporting economically disadvantaged students pursuing technical education in India. This is one of top scholarships for MBA which provides a full waiver of tuition fees for eligible candidates, thereby promoting greater access to quality education.
Amount: 100% Tuition Fee
Deadline: Applications will open soon
Indian Oil Educational Scholarship 2025 [Upto Rs 36,000 per year]:Indian Oil Educational Scholarship 2025[Upto Rs 36,000 per year] The Indian Oil Educational Scholarship 2025, offered by Indian Oil Corporation Limited (IOCL), aims to support meritorious students from economically disadvantaged backgrounds pursuing various educational streams. The scholarship is awarded to students pursuing studies in various streams, including Class 10+2,Engineering, MBBS, or MBA and ITI.
Amount: Rs 36,000 per year
Deadline:31st October 2025
NTPC Scholarship Scheme 2025[Upto Rs 18,000 per year]: The NTPC Scholarship Scheme 2025 is an initiative by the National Thermal Power Corporation (NTPC) to support meritorious students from Scheduled Caste (SC), Scheduled Tribe (ST), and Physically Challenged (PC) categories pursuing full-time MBA programmes in India.
Amount: Rs 36,000 per year
Deadline: August 2025(Tentative)
Central Sector Scholarship Scheme for College and University Students: The Central Sector Scholarship Scheme (Ministry of Education, India) is a merit‑cum‑means initiative offering financial assistance to meritorious undergraduate and postgraduate students, including those pursuing an MBA .As part of this scheme, up to 82,000 fresh scholarships are granted annually, equally distributed between male and female students . MBA students at postgraduate level receive a scholarship of ₹20,000 per annum, helping to ease tuition and living costs
Amount: Rs 20,000 per year
Deadline: December 2025(Tentative)
ONGC Scholarship to Meritorious General Category Students: The ONGC Merit Scholarship, under its CSR initiative by the ONGC Foundation, awards 500 merit-based scholarships annually to first-year General Category MBA students enrolled in full-time, AICTE/UGC-approved programs . Each scholar receives a generous ₹48,000 per academic year—distributed as ₹4,000 monthly—to support tuition and living expenses during the two-year MBA .
Amount: Rs 48,000 per year
Deadline: Applications will open soon
Aditya Birla Group Scholarship for MBA: The Aditya Birla Capital Scholarship 2025–26 is a Corporate Social Responsibility (CSR) initiative by the Aditya Birla Capital Foundation, aimed at supporting students from economically weaker sections in India to continue their education. Initiated in 1999 by the Aditya Birla Group in memory of Aditya Vikram Birla, this prestigious scholarship recognises top-tier management talent from the country’s leading institutes .Open to MBA/PGDM students at IIM Ahmedabad, Bangalore, Kolkata, Lucknow, Kozhikode, Shillong and XLRI Jamshedpur, the scholarship is awarded to those ranked within the top 20 at the time of admission
Amount: 3,00,000 per year per year
Deadline:30 June 2025
OP Jindal Outstanding Scholarship for MBA :The OPJEMS Scholarship, launched by the O.P. Jindal Group, recognizes and supports top-performing MBA/PGDM students from 40+ premier institutes—including IIMs, XLRI, FMS, IIFT, JBIMS, SPJIMR, MDI, OP Jindal, and others . Each year, approximately 100 students are awarded scholarships across engineering and management streams, with about 50 management scholars . For MBA students, the scholarship amount is ₹1,50,000 per annum, granted directly to recipients . Eligibility typically includes the top 10 students in each MBA/PGDM batch (first or second year)
Amount:₹1,50,000 per annum
Deadline: Applications will open soon
E-Kalyan Jharkhand Scholarship 2025 :The E-Kalyan Jharkhand Scholarship is a financial assistance program initiated by the Government of Jharkhand to support students from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC) in pursuing their education. This scholarship aims to reduce financial barriers for eligible students, enabling them to continue their studies without undue hardship.
Amount: Up to Rs 1 lakh
Deadline: 30 May 2025
MPOWER Women in STEM Scholarship:The MPOWER Women in STEM Scholarship is an annual initiative aimed at supporting female international and DACA students pursuing full-time degrees in Science, Technology, Engineering, and Mathematics (STEM) fields at MPOWER-supported institutions in the U.S. or Canada. This includes MBA programs that are STEM-designated and offered by eligible schools.
Amount: $6,000
Deadline: July 31, 2025
JN Tata Endowment for Higher Education 2025-26 :A prestigious merit-based loan scholarship founded in 1892 by Jamsetji Tata, supporting Indian students pursuing postgraduate studies abroad, including MBA programs. It’s open to Indians under 45 with a ≥ 60% undergraduate mark, admitted to or already enrolled in a recognized overseas postgraduate program. The Endowment supports only higher studies overseas – Master’s, Ph.D., Post – doctoral fellowships, across all education streams. Based only on Merit, it seeks to recognise and award, “the best and most gifted so as to make them of the greatest service to the country”.
Amount: Rs 10 lakhs
Deadline: Applications will open soon
Read also: Google PhD fellowship 2025
Scholarships for MBA
FAQs scholarships for MBA
1. What are the top government scholarships available for MBA students in India?
- Central Sector Scholarship Scheme: For students with high academic performance and low family income.
- ONGC Scholarship: For meritorious general category students in their first year of MBA.
- Post-Matric Scholarship for SC/ST Students: Full financial support for SC/ST students.
- National Fellowship and Scholarship for ST Students: For tribal students at premier institutes like IIMs.
2. Who is eligible for these scholarships for MBA?
- Central Sector Scholarship:
- Family income ≤ INR 4.5 lakh per annum.
- 80th percentile or above in Class 12; enrolled in a recognized MBA program.
- ONGC Scholarship:
- First-year MBA students with 60% in Class 12 and graduation.
- Family income ≤ INR 2 lakh per annum.
- General category only.
- Post-Matric Scholarship for SC/ST:
- SC/ST category students.
- Family income ≤ INR 2.5 lakh per annum.
- Enrolled in a recognized MBA program.
- National Fellowship for ST Students:
- ST category students.
- Strong academic record; enrolled in approved institutes (e.g., IIMs, XLRI).
3. What benefits do these scholarships for MBA provide?
- Central Sector Scholarship: Up to INR 20,000 per year for two years (partial MBA cost coverage).
- ONGC Scholarship: INR 48,000 per annum.
- Post-Matric Scholarship for SC/ST: Full tuition fee + maintenance allowance (up to INR 13,000/year).
- National Fellowship for ST Students: Up to INR 28,000/month + full tuition fee coverage.
4. How do I apply for these scholarships for MBA?
- Central Sector Scholarship: Through the National Scholarship Portal (scholarships.gov.in).
- ONGC Scholarship: Via ONGC’s official website or portals like Buddy4Study.
- Post-Matric Scholarship for SC/ST: State government portals or National Scholarship Portal.
- National Fellowship for ST Students: National Scholarship Portal.
- Note: Deadlines vary (typically July-October for academic year start); check specific portals for 2025 dates.
5. What documents are required for the application for such scholarships for MBA?
- Common documents across these scholarships:
- Income certificate (e.g., issued by Tehsildar or equivalent).
- Caste certificate (for SC/ST scholarships).
- Class 12 and graduation mark sheets.
- MBA admission proof (e.g., offer letter or fee receipt).
- Aadhaar card or other ID proof.
- Bank account details (for direct benefit transfer).
- Check specific scholarship guidelines for additional requirements.
6. Can I apply for more than one government scholarships for MBA?
- Generally, no. Most government scholarships (e.g., Post-Matric, Central Sector) prohibit availing multiple schemes simultaneously to ensure equitable distribution. However, you can combine a government scholarship with an institute-specific award (e.g., IIM need-based aid) if the institute permits.
7. Are these scholarships for MBA available for all MBA institutes?
- Yes, as long as the institute is recognized by the University Grants Commission (UGC) or All India Council for Technical Education (AICTE). Premier institutes like IIMs, XLRI, and state universities are typically covered. For the National Fellowship (ST), the institute must be on the approved list (e.g., IIMs, IITs with MBA programs).
8. Is there an entrance exam score requirement?
- Not explicitly for most government scholarships. Eligibility is based on prior academic performance (e.g., 60% in graduation for ONGC) or financial need. However, admission to an MBA program often requires CAT/XAT/GMAT scores, indirectly influencing eligibility.
9. What is the deadline to apply for these scholarships for MBA?
- Deadlines vary annually:
- Central Sector: Often October 31 for fresh applications.
- ONGC Scholarship: Typically mid-year (e.g., July-August).
- Post-Matric SC/ST: Varies by state, usually July-September.
- National Fellowship ST: Around August-October.
- Check the National Scholarship Portal or respective websites for 2025-specific dates.
10. Can I renew these scholarships for the second year of my MBA?
- Central Sector: Yes, renewable with satisfactory academic progress.
- ONGC Scholarship: No, it’s a one-time award for the first year.
- Post-Matric SC/ST: Yes, renewable for the full course duration if academic criteria are met.
- National Fellowship ST: Yes, renewable for two years with good performance.
11. What happens if my family income exceeds the limit after the first year?
- For need-based scholarships (e.g., Central Sector, Post-Matric), you may become ineligible for renewal if your family income exceeds the threshold. You must submit updated income proof annually. Merit-based portions (e.g., ONGC) are unaffected by income changes.
12. Are there any reservations or quotas in these scholarships for MBA?
- Central Sector: No specific quotas, but merit and income-based.
- ONGC Scholarship: 50% reserved for female candidates in some cases.
- Post-Matric: Exclusive to SC/ST students.
- National Fellowship: Exclusive to ST students with a fixed number of slots (e.g., 750 fellowships annually).
13. How long does it take to receive the scholarship funds?
- Typically 2-6 months after application approval, depending on verification and disbursement schedules. Funds are transferred directly to your bank account via Direct Benefit Transfer (DBT).
14. What if I’m pursuing an MBA part-time or online?
- Most government scholarships for MBA (e.g., Post-Matric, Central Sector) require enrollment in a full-time MBA program at a recognized institute. Part-time or online MBAs are generally ineligible unless specified otherwise (rare).
15. Are scholarships for MBA available for minority students?
Yes, minority students can apply for scholarships such as the Merit-cum-Means Scholarship for Professional and Technical Courses offered by the Ministry of Minority Affairs. The scholarship is available to students belonging to notified minority communities (Muslim, Sikh, Christian, Buddhist, Jain, and Parsi). Applicants must meet income and academic eligibility criteria and be enrolled in a recognized MBA program.
16. Can economically weaker section (EWS) students apply in mentioned scholarships for MBA?
Yes, EWS students can apply for various government and state-level scholarships if they meet the income criteria. They must provide a valid EWS certificate issued by a competent authority. Eligibility conditions such as enrollment in a recognized MBA program and academic performance also apply.
17. Is there any scholarships for MBA specifically for female students?
Some scholarships, such as the ONGC Scholarship, may reserve a percentage of seats for female candidates. Additionally, various state governments and private organizations offer dedicated scholarships for women pursuing professional courses, including MBA. Eligibility requirements and benefits vary depending on the scheme.
18. Are there state government scholarships available for MBA students?
Yes, many state governments provide Post-Matric and merit-based scholarships for MBA students. The eligibility criteria usually include domicile requirements, income limits, and admission to a recognized institution. Students should check their respective state scholarship portals for detailed information.
19. Do I need to maintain a minimum percentage to continue receiving the scholarships for MBA?
Yes, most scholarships require students to maintain satisfactory academic performance for renewal. Failure to meet the required academic standards may result in cancellation or non-renewal of the scholarship. Updated mark sheets are typically required during the renewal process.
20. Can I apply for an MBA scholarship before securing admission?
Generally, applicants must have secured admission in a recognized MBA program before applying. Proof of admission, such as an offer letter or fee receipt, is usually mandatory. Applications without confirmed enrollment are typically not accepted.
21. Are MBA scholarships taxable?
In most cases, scholarships granted to meet the cost of education are exempt from income tax under Section 10(16) of the Income Tax Act. However, students are advised to consult a tax professional for clarity based on their individual circumstances. Tax treatment may vary depending on the scholarship type.
22. What is Direct Benefit Transfer (DBT) in scholarships for MBA?
Direct Benefit Transfer (DBT) is a system through which scholarship funds are directly credited to the student’s bank account. This ensures transparency and timely disbursement of financial assistance. Applicants must provide accurate bank account details to receive funds successfully.
23. Can MBA students studying abroad apply for these government scholarships for MBA?
Most of the listed government scholarships apply only to students studying in recognized institutions within India. However, certain central or state schemes may offer separate provisions for overseas education. Students must check individual scholarship guidelines for eligibility.
24. What happens if I discontinue my MBA course after receiving the scholarship which are listed in scholarships for MBA?
If a student discontinues the MBA program, the scholarship may be terminated immediately. In some cases, authorities may request repayment of the amount disbursed, depending on the scholarship rules. Students should carefully review the terms and conditions before accepting the award.
25. Where can I check official updates about government scholarships for MBA?
Students can visit the National Scholarship Portal (scholarships.gov.in), respective state scholarship portals, or the official websites of sponsoring organizations like ONGC. It is important to rely only on official sources for accurate information regarding eligibility, deadlines, and application procedures.
26. Can MBA students from private colleges apply for government scholarships?
Yes, MBA students studying in private colleges can apply for government scholarships, provided the institution is recognized by UGC or approved by AICTE. The college must meet the eligibility criteria specified under the scholarship scheme. Students should verify their institute’s recognition status before applying.
27. Is there any age limit for applying to government scholarships for MBA?
Some government scholarships may specify an age limit, while others focus mainly on academic performance and income criteria. The age requirement, if applicable, is clearly mentioned in the respective scholarship guidelines. Applicants should carefully review the eligibility section before submitting their application.
28. Can final-year undergraduate students apply for MBA scholarships in advance?
In most cases, students must have confirmed admission into an MBA program before applying. However, they can prepare required documents and monitor application notifications in advance. Once admission is secured, they can proceed with the scholarship application process.
29. What should I do if my scholarship application gets rejected?
If your MBA scholarship application is rejected, you should first check the reason mentioned on the portal or notification. Common reasons include incomplete documents, incorrect information, or not meeting eligibility criteria. If eligible, you may correct errors (if allowed) or apply again in the next academic cycle.
30. Are there institute-specific scholarships for MBA students apart from government schemes?
Yes, many MBA institutes such as IIMs, XLRI, and other universities offer need-based or merit-based financial aid to students. These scholarships are separate from government schemes and may have different eligibility conditions. Students can often combine institute-specific aid with certain external scholarships if permitted by the institution.
Scholarships for MBA
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