The student scholarship scheme “M-Scholar” was introduced by Magma Fincorp Ltd., leading BFSI entity, in 2015. During the past two years, Magma has awarded scholarships to 50 students each. In an effort to reach out to more meritorious students from the lower income families, Magma has decided to double the number this year and offer 100 scholarships across the country in FY18. Every year many meritorious students hailing from poor families are forced to discontinue their higher education due to lack of funds. Keeping alive their motto of ‘investing in the smallest dreams’, financial assistance in form of scholarships to such students every year under their scheme “M-Scholar”. Students will be selected on the basis of their academic performance and socio-economic background of their families who are unable to support their children to continue studies.
Speaking to the media, Kaushik Sinha, Vice President, CSR, Corporate Communications & Admin, Magma Fincorp Ltd. elaborated on the initiative and the application procedure for this year. “Applications are invited from eligible students from across the country. Till now we offered 50 scholarships every year. However, considering the need to reach out to more such meritorious students who are forced to discontinue their students due financial constraints this year we will offer 100 scholarships for their under-graduate studies. The three year scholarship will be renewable every year on confirmation of grades in annual exams”, said Sinha.Magma believes that the scholarship will meet a part of the student’s education and related expenses while pursuing higher studies.
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-100 eligible students will be given the scholarship for three years
-Student must be citizen of India
-Maximum age of applicant as on 15th August 2018 – 20 years