Scholarships are an excellent way to enhance the learning process. It lessens the financial strain on students. In addition to financial aid, a scholarship is also a recognition of one’s educational achievements. Scholarships also allow students the chance to network with others who share their interests, form bonds, and gain the knowledge and self-assurance necessary to excel in their chosen industries. Additionally, they give students a stage on which to display their skills and talents, which creates new chances and opportunities. Scholarships are an excellent method to level the playing field and promote equal access to higher education.
There are several amazing scholarships in India for commerce available from numerous sources, including government and private organizations. These scholarships help students from low-income families access education, provide tuition assistance, and even support living expenses.
Below are some scholarships that Indian students with a commerce background can apply to
- Aditya Birla Scholars
Excerpt :
Instituted in 1999, this aspirational scholarship extends to the country’s top scholars from 22 premier institutes: BITS Pilani, IITs, IIMs, XLRI and premier law colleges such as The National Law School University, Bangalore; Nalsar University of Law, Hyderabad; National University of Juridical Sciences, Kolkata; The Gujarat National Law University; The National Law University, Jodhpur. The aspirational Aditya Birla Scholarship Programme accords significant financial support and enables scholars to bond with students from select institutes and network with leaders from the Aditya Birla Group.
Scholarship Package :
INR 1,50,000 per annum
Eligibility :
Students from the following institutes can apply for the Scholarship:
- Indian Institute of Management Ahmedabad
- Indian Institute of Management Bangalore
- Indian Institute of Management Kolkata
- Indian Institute of Management Lucknow
- Indian Institute of Management Kozhikode
- Indian Institute of Management Shillong
- XLRI – Xavier School of Management
Selection Procedure :
- The top 20 students in terms of their entrance exam ranking at the time of admission are to apply through the Dean of the respective institutes.
- The student’s overall achievements spanning academic and co-curricular excellence will be assessed to select them for the next round.
- For the final round, essays written by these students will be reviewed by an eminent panel of luminaries and academicians.
- Shortlisted students will be invited for an interview which will determine the 16 best students from the management stream.
Things to note :
- The performance of the Scholars will be monitored closely for the renewal of the Scholarship every year.
- The Scholar will be assessed on qualitative and quantitative parameters to judge their excellence on the academic and leadership front. This assessment will help determine the continuation of the disbursement of the Scholarship amount.
- The assessment will be done every year until the completion of the course.
Application Deadline:
–
Website:
- NU Scholar Search Programme
Excerpt :
Under NU’s distinctive scholarship programme, applicants may qualify for a scholarship up to a full waiver on the university tuition fees. The scholarships are awarded based on either the student’s academic performance or their performance in entrance examinations and are only applicable to university tuition fees.
Scholarship Package :
Based on CUET – Common University Entrance Test(Average of best two from English, General Test, Math)
Financial aid is classified under 4 levels –
MS 1 – ₹200,000
MS2+ – ₹150,000
MS 2 – ₹100,000
MS 3 – ₹50,000
Eligibility :
- Only for BBA or iMBA courses.
- CUET score must be greater or equal to 80.
Things to note :
- The scholarships are merit-based and subject to availability.
- The scholarship is valid for the full duration of the programme in which the student is enrolled, subject to the student maintaining minimum required grades.
- Meritorious students can upgrade their scholarships even after admission.
Application Deadline:
–
Website:
- The Tata Capital Pankh Scholarship Programme
Excerpt:
The pathways to selecting such students are through our employees who nominate candidates from their support groups and mentor their candidates, if selected, based on a robust selection process. Alternatively, a student may apply through our online partner for just a scholarship.
Currently, scholarships have been awarded to 1300+ students through direct and online platforms. In the past years, our students after completion of their courses have either taken up higher education or joined companies like TCS.
Scholarship Package:
Up to 80% of tuition fees paid by students or up to INR 20,000 (whichever is less)
Eligibility :
- An applicant must be enrolled in an undergraduate degree programme like BCom, BSc, BBA, etc. at a recognized institution in India.
- They must have scored at least 60% marks in the preceding class.
- The annual family income must be less than or equal to INR 4,00,000 from all sources.
- Children of employees of Tata Capital & Buddy4Study are not eligible.
- Open for Indian nationals only.
Documents :
- Photo identity proof (Aadhaar Card)
- Passport size photograph
- Income proof (Form 16A/income certificate from government authority/salary slips, etc.)
- Proof of admission (school/college ID card/bonafide certificate, etc.)
- Current academic year fee receipt
- Bank account details of the scholarship applicant
- Marksheets or grade cards of the preceding class
Selection Procedure:
- Initial shortlisting of applicants based on their academic merit and financial background
- Telephonic interview of shortlisted candidates
- Final interview by a selection committee for final selection
Things to note :
50% of seats are reserved for girls. Also, weightage will be given to SC/ST/Disabled students
Application Deadline :
July- August
Website :
- SBIF Asha Scholarship Program
Excerpt :
Under this scholarship program, college students pursuing the first year of undergraduate studies from top NIRF universities/colleges and IITs, MBA/PGDM from IIMs, and PhD from premier institutions are entitled to receive a scholarship of up to INR 5 lakh for 1 year.
Scholarship Package:
Up to INR 5,00,000 per annum
Eligibility
- Students pursuing first-year MBA/PGDM courses at top IIMs in the academic year 2022-23 are eligible.
- Applicants must have secured a minimum of 75% marks in graduation (aggregate scores of all years/semesters).
- The annual family income of the applicants from all sources must not be more than INR 3 Lakh.
- Indian citizens only.
Selection Procedure :
- Initial shortlisting of applications based on their academic merit and financial background
- Telephonic interview of shortlisted candidates followed by document verification for final selection
Things to note :
This is a one-time scholarship for post-graduation students(MBA/PGDM).
Application Deadline :
April
Website :
- Capital First MBA Scholarship
Excerpt :
IDFC FIRST Bank MBA Scholarship is a need-based scholarship of INR 2,00,000 for two years of full-time MBA studies. The purpose of this scholarship is to make Post Graduate Studies in Business accessible to meritorious students who are unable to pursue it due to their financial constraints.
Scholarship Package:
INR 2,00,000 for two years.
Eligibility :
- Open for Indian Nationals, residing in India only.
- Gross annual family income from all sources should be less than or equal to ₹6 Lakhs p.a.
- Applicable for students enrolled in the first year of the two-year MBA program or its equivalent of the class of 2023
- Students enrolled in selected universities are eligible only.
- 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 an Aadhaar card.
Selection Procedure :
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.
Things to note :
Students pursuing a 1-year executive program, integrated MBA program or any MBA program other than a 2-year full-time MBA/PGDM program are not eligible for this scholarship.
Application Deadline :
Applications are yet to open for the 2023-2025 batch.
Website :
- Indian School of Business (ISB)
Excerpt :
The Indian School of Business (ISB) evolved from the need for a world-class business school in Asia. Funded entirely by private corporations, foundations and individuals from around the world who believe in its vision, the ISB is a not-for-profit organization.
There are numerous scholarships offered by ISB. Some of them are
- Prof.Manasa Mandava Memorial Scholarship
- Awarded to a woman applicant high on merit. It will be awarded in two tranches, the first tranche 25% of the tuition fee at the start of the programme and the second after completion of the core terms.
- No separate application is required.
- 50% of the tuition fee is waived.
- Dean Don Jacob’s Memorial Scholarship
- Awarded to an applicant high on merit.
- No separate application is required.
- 50% of the tuition fee is waived.
- Bridge to India Waiver
- Applicants who are currently working abroad and are planning to come back to India can apply.
- The candidate will have to write an essay.
- 25% of the tuition fee is waived.
- Bajaj Auto Scholarship
- Bajaj Auto sponsors three merit-based scholarships. The awardees of this scholarship are known as “Bajaj Auto Scholar”.
- No separate application is required.
- 100% of the tuition fee is waived.
- AT&T Tuition Grant
- AT&T Global Network Services has instituted two tuition waiver Scholarships to the students of the PGP programme of which one will be a female student.
- Declaration of ISB Need-based application is necessary.
- A Scholarship of 5 Lakh is offered.
Website :
- Commerce Ka Arjun Scholarship Program
Excerpt :
Commerce Ka Arjun scholarship program 2022-23 is a competitive National-level examination organized by Vidya Sagar Institute. The objective of this program is to award financial and educational aid to young talented commerce minds in India.
Scholarship Package :
Based on the marks scored in the examination.
The scholarship is based on CA/CMA Foundation Coaching Fee.
| Marks | 100-96 | 95-91 | 90-86 | 85-81 | 80-76 | 75-50 |
| Scholarship | 90% | 70% | 50% | 20% | 10% | 5% |
Eligibility :
A Commerce student pursuing Class XII from any authorized board can register for the scholarship program.
Things to note :
Application Deadline :
January
Website :
- ICAI Commerce Wizard
Excerpt :
The Commerce Talent Search Test called Commerce Wizard is a diagnostic test that
measures the concept understanding ability of a student. Unlike regular tests which try only to find out how much a child knows, this test measures how well a student has understood the concepts.
Scholarship Package :
The scholarships are based on the rank of the diagnostic test.
- 1st Rank – ₹ 1,00,000. If multiple winners are there, the prize amount will be shared by them.
- 2nd Rank – ₹ 50,000. If multiple winners are there, the prize amount will be shared by them.
- 3rd Rank – ₹ 25,000. If multiple winners are there, the prize amount will be shared by them.
- Consolation Prize – Next top 200 rank holders will be awarded a consolation Prize of ₹1000.
Eligibility :
Registration is open to the students appearing in class IX/X/XI/XII.
Selection Procedure :
- The Commerce Wizard will be conducted in two levels, Level-I & Level-II online tests.
- It is an objective-type test of 60 minutes duration consisting of a total of 80 Multiple Choice Questions (MCQ) in each level of one mark each.
- The top 800 candidates each from IX, X, XI, XII & Graduation shall be shortlisted for the Level-II test or 10% of the Candidates who appeared for the Level-I online test, whichever is higher.
Application Deadline :
Applications for 2023-2024 are not yet released.
Website :
- ICAI CA Scholarship
Excerpt :
The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament for regulating the profession of Chartered Accountancy in India. The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in the public interest.
Scholarships available are :
- Need-Based Economically Weaker Intermediate Students
- Amount: INR 1500 per month
- Eligibility :
- Students who are registered for Intermediate Course either through Foundation Route or through Direct Entry Route.
- The income of parents should not be more than Rs. 3,00,000/- per annum.
- Period of Scholarship :
- 9 months commencing from the following month of registration for Intermediate Course.
- Additional 3 months if the Student has completed Orientation Course and IT within the first 9 months of registration for Intermediate Course.
- Additional 3 months if the Student has passed any one Group in Intermediate Examination within 12 months of registration for Intermediate Course.
- Need-Based For Economically Weaker Final Students
- Amount: INR 1500 per month
- Eligibility :
- Students who are registered for Final Course.
- The income of parents should not be more than Rs. 3,00,000/- per annum.
- Period of Scholarship :
- 30 months or the remaining period of the Articleship, whichever is less.
- Merit Scholarship
- Amount: INR 2500 per month
- Eligibility :
- Rank holders of Intermediate Examinations, whose names appear at Sl. No. 1 to 10 and in case the rank at Sl. No. 10 continues to further ranks i.e. to Sl. No. 11 or to Sl. No. 12 or so on, then all such Rank holders.
- Students must register for Final Course before making an application.
- Period of Scholarship :
- 30 months or the remaining period of the Articleship, whichever is less.
4.Merit-Cum-Need Based Scholarship
- Amount: INR 2000 per month
- Eligibility :
- Rank holders of Intermediate Examinations other than those covered under Merit Scholarship.
- Students must register for Final Course before making an application.
- The income of parents should not be more than Rs. 3,00,000/- per annum.
- Period of Scholarship :
- 30 months or the remaining period of the Articleship, whichever is less.
Website :
- The J N Tata Endowment Loan Scholarship
Excerpt :
The merit-based J. N. Tata Endowment loan scholarship is awarded one-time to Indians for full-time Postgraduate/Ph.D./Postdoctoral/Research fellowships studies overseas, in all fields, irrespective of caste, creed, gender, or community. In addition, scholars may also be recommended for partial travel assistance and a gift award from our allied Trusts.
Scholarship Package :
- The amount of the loan scholarship ranges between Rs.1,00,000 and Rs.10,00,000, determined based on the norms laid down for the purpose, and does not cover the full cost of studies.
- Partial travel assistance with a maximum of Rs.50,000.
- The gift award ranges between Rs.2,00,000/- and Rs.7,50,000/- and depends on the academic performance of candidates.
Eligibility :
- Candidates should be Indians and not older than 45 years.
- Graduates of a recognised Indian University with at least 60% marks on average in their undergraduate or postgraduate studies are eligible. If the undergraduate degree is not from a recognised University in India, candidates are not eligible to apply.
- Candidates who did not get selected in the previous year/earlier for the loan scholarship or the candidates who were awarded but could not avail of the loan scholarship are also eligible to apply.
- Candidates who missed applying to the J N Tata Endowment at the beginning of their overseas studies may apply at the end of 1st year or the beginning of 2nd year provided there is a minimum of 12 months remaining in their studies, at the time of award of the loan scholarship, which is usually July of any calendar year.
- Candidates in the final year of their degree courses and awaiting results are eligible to apply.
- Candidates may apply even if they do not have the admission/offer letters at the time of making the application. However, they must update their application status with the Endowment once they secure admission.
- Candidates who are planning to study for diplomas of at least 1-year duration whose entry-level requirement is higher secondary level are not eligible to apply.
- Candidates going overseas for seminars, conferences, training, workshops, paper presentation, undergraduate studies, and any post-graduate degree/diploma/certificates through Distance learning or online medium are not eligible to apply.
- Candidates planning to pursue postgraduate and undergraduate studies in India are not eligible to apply.
- The course to which candidates are admitted must be recognized as a Graduate Program (post-graduate in Indian terminology).
- J N Tata scholars who have fully repaid their existing loan scholarship amount are eligible to apply.
Selection Procedure :
The entire selection process has been divided into four phases.
Phase 1
- Candidates will be required to submit preliminary details such as personal and academic information, work experience, and statement of purpose.
- Scanned copies of the following documents should be uploaded:-
Candidate’s photo, Aadhar card, Pan card, Passport, Transcript/s for each qualification, Scorecards (GRE/GMAT/TOEFL/IELTS/PTE)
- Apart from consistent academic performance, importance is given to participation in both co-curricular and extra-curricular activities.
Phase 2
Shortlisting for online test
- This test is based on the lines of the Thinking Skills Assessment (TSA).
- It is not a subject-specific test and contains some numerical questions but does not presume anything more than knowledge of arithmetic and does not involve difficult calculations.
Phase 3
Shortlisting for technical interview
- Candidates who are shortlisted for the interview will be required to complete the application form by supplying information on applied university/universities, proposed plans, source of funds, parents’ details, and guarantor’s details.
- Scanned copies of the following documents should be uploaded
- Letter of admission
- Guarantor’s photo
- Guarantor’s Aadhar card, Pan card, one-year ITR/pay slip last 3 months
- A Letter of Recommendation (LOR)
Phase 4
Interview
- Scanned copies of the following documents should be uploaded before the interview
- The final year mark sheets and degree certificate
- Certificate of scholarships/ranks/prizes (if any)
- Co-curricular and extra-curricular activities
- Research work/Project work
- The final selection of scholars for the award of the loan scholarship is based on the following criteria:
- Performance at the interview
- Score on the online test
- Score based on academic results, GRE/GMAT/IELTS/TOEFL/PTE scores, statement of purpose, and work experience.
Things to note :
- The scholarship is offered at a simple interest of 2% per annum. However, Trustees may waive the interest if candidates repaid the loan by the end of the seventh year. The repayment schedule is in five equal installments of 20% between the 3rd and 7th years.
- Each candidate must have a guarantor whose liability is on par with the candidate.
Application Deadline :
The application usually opens in December.
Website :
Given India’s extensive educational system, there are numerous fantastic scholarships for deserving students who are dedicated and willing to put in the effort. Scholarships can be a game-changer. So don’t forget to apply – it could be just the break you need!