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Best Scholarships in India and Abroad For MBA Students And Eligibility

Vaishnavi Rastogi

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Scholarships for MBA Students: Are you planning to pursue a Masters in Business Administration and want to take admission in top university/college? But do you know an MBA is one of the costliest degrees in India? An intelligent and deserving student like you can’t just drop the dream of pursuing an MBA because of high fees. So, what can you do in order to take admission in India’s top and most prestigious colleges?

In the modern day, numerous government and private organizations offer fully funded MBA scholarships to deserving students. These scholarships are available both online and offline, making them accessible to a wide range of applicants globally. Students can apply through official scholarship portals, university websites, or dedicated platforms, and many of these programs require candidates to appear for specific MBA entrance exams such as the GMAT, GRE, or institution-specific tests. Additionally, some scholarships may be based on academic merit, work experience, or leadership potential, without requiring a standardized test score.

Many prestigious universities such as IIM along with central and state governments, provide numerous MBA scholarships to the meritorious students every year.

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List of Scholarships for MBA Students

The main aim of this Scholarship Programme is to pursue Mr Aditya Birla’s ideals of spawning leaders with a passion to excel. Aditya Birla Scholarship is attained through brilliant and outstanding human leadership values. This Group has a partnership with selected IIMs, IITs, XLRI, law universities and BITS Pilani.

This scholarship can be availed by students pursuing MBA from XLRI or IIM. The scholarship amount is INR 1,75,000 per annum. This is one of the best scholarships one can apply for.

This scholarship was started in 2007 with an aim to provide leadership and academic excellence. A hundred students from 40 top engineering and management colleges are chosen every year for this scholarship. An entrance exam is conducted at the time of admission for first-year students through which ten toppers are selected for this internship. For the students of the second, third and fourth year, the students are selected on the basis of their previous year academic performance. Scholarship amounts to INR 1,50,000 per candidate.

This scholarship is initiated by Hero Group. The candidates who are applying at the BML University can get up to 100% scholarship based on their scores of GMAT or CAT/XAT. The scholarship amount is calculated on the basis of marks obtained in entrance exams. Candidates can apply for this scholarship online through the official website of the university. The application process starts in April and finishes in July.

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This scholarship is an initiative of Yes Bank. Meritorious students from 25 top business campuses are selected. 30 top students are selected. The scholarship amounts to INR 2 lakh which is given at the end of the programme to selected candidates who are pursuing a business programme with an aim of solving business-related problems. Mentors are provided which help students to clear all the doubts related to the subject.

NSS (New Scholarship Scheme)

The New Scholarship Scheme (NSS) at IIFT Delhi is a need-cum-merit based financial aid program designed to support economically disadvantaged students enrolled in full-time programs such as MBA (International Business), MBA (Business Analytics), MA (Economics), and IPM. Under this scheme, up to 10% of students in each eligible program receive a 20% tuition fee waiver. Eligibility is based on a combined assessment of financial need and academic performance—with 70% weightage given to students’ annual family income (which must be ₹8 lakhs or below) and 30% to their final CGPA. The scholarship is awarded after successful completion of the program, and students already receiving equal or greater financial aid from other sources are not eligible. Selection is done by a committee comprising faculty and finance officers, ensuring fairness and transparency.

This scholarship is provided by IIMA to all the students admitted to the MBA programme whose gross family income is less than INR 15 lakh. The scholarship amount for each student is determined by the authority of IIMA based on the candidate’s economic status which is calculated on the basis of immovable and movable family assets, family income and other financial criteria’s.

This scholarship program was initiated to help differently-abled girl students to pursue PGP. Male students can also avail this scholarship if there are no female candidates eligible for this. The scholarship amounts to INR 75,000, a certificate and a medallion. The main aim of this scholarship is to keep the memory of the 1976 batch of PGP.

IDFC first bank flagship scholarship is for those meritorious and top students who can’t afford an MBA in top colleges due to financial problems. This scholarship is for the students who have already secured a good rank and have taken admission in top B-schools on the basis of merit. The candidate should have a family income of not more than 6 lakh per year. A scholarship amount of INR 2 lakh is given for 2 years full-time MBA course. This scholarship is only applicable to Indian students.

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MBA Scholarships in Abroad

The Fulbright Program is a prestigious, fully funded scholarship sponsored by the U.S. government that supports international students pursuing graduate studies, including MBAs, at top American universities. It covers tuition, living expenses, travel, and health insurance. Selection is highly competitive and based on academic excellence, leadership potential, and a commitment to fostering cross-cultural exchange. The program aims to develop future leaders who will contribute to their home countries’ development.

This program offers fully funded scholarships for select joint master’s programs across European universities, including MBA tracks focused on international business. The scholarship covers tuition, travel, and a monthly stipend for living expenses. Erasmus Mundus promotes mobility and intercultural learning by requiring students to study in at least two different European countries during their degree.

The German Academic Exchange Service (DAAD) offers a range of scholarships for international students pursuing graduate degrees, including MBA programs, at German universities. These scholarships cover tuition fees, monthly stipends for living expenses, travel allowances, and health insurance. DAAD scholarships focus on academic excellence, leadership potential, and the applicant’s commitment to contributing to their home country’s development after graduation.

Sponsored by the Australian Government, these scholarships provide full financial support for students from eligible developing countries to pursue MBA degrees and other postgraduate programs in Australia. They cover tuition fees, living allowance, health insurance, and travel costs. The program focuses on building leadership capacity and strengthening ties between Australia and partner countries.

Scholarships for MBA Students: Frequently Asked Questions (FAQs)

For most of the scholarships, students have to apply at their respective colleges, contact the college’s admission committee for knowing the full details.

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You can visit the official website of the college in which you want to take admission to know if there are scholarships available or not and can also check online.

Yes. Some Institutes provide scholarship to minorities and migrants as well.

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