IBS Mumbai Scholarship Details

Krishmand Chettri

ICFAI Business School (IBS) Mumbai extends scholarship opportunities to eligible students, with government scholarships not being available.  IBS has recently announced scholarships worth INR 10 Crores for the same. Various scholarship types are offered at IBS Mumbai, including the following:

• IBSAT Scholarship
• Merit-based scholarships
• Wards of Defence Personnel Scholarship (Retired/Serving)
• Bridge Loan Facility

IBSAT Scholarship

Scholarships amounting to INR 10 Crores have been announced by IBS for the IBSAT 2023 top performers. Candidates applying with the scores of the management entrance tests like GMAT, CAT, NMAT, and XAT should also appear for IBSAT in order to be considered for the scholarship. IBS is planning to award around 500 merit scholarships to the below categories of students in addition to the IBSAT top performers. 

Each scholarship amounts to INR 2 lakhs per candidate, with the flexibility of adjusting INR 1 lakh each in the first and second-term installments against the program fee. Apart from the IBSAT Toppers, the scholarships are provided to the following section of students listed below.

• Wards of IBS Alumni
• Wards of Defense Personnel (Serving/Retired)
• Physically Challenged Candidates

Merit-Based Scholarships

• Top performers in the management entrance exam i.e. IBSAT are eligible for this merit-based IBS Mumbai Scholarship.
• The IBS Mumbai scholarship is given based on the graduate student's past academic performance. 
• This scholarship amount will be prorated equally over the course of five program fee installments.

Wards of Defence Personnel Scholarship (Serving/Retired)

• Defence personnel are eligible for a discount on the programme price at IBS Mumbai however they are not eligible for service or retirement.

Bridge Loan Facility

• Under the Bridge Loan Facility, IBS Mumbai accepts the first installment of the Program fee in partial payments by way of one Demand Draft and three cheques in equally distributed amounts. IBS students may utilize this facility until the bank loan is sanctioned. The details are provided in the Selection Letter.