IIM Indore Scholarships: Students of the Indian Institute of Management (IIM) Indore regularly win top national and global scholarships offered by leading companies and organisations. These include the Aditya Birla Scholarship, YES Bank Scholarship, OP Jindal Engineering and Management Scholarship (OPJEMS), Capital First MBA Scholarship and, most recently, the DHL GoTrade GBSN Fellowship 2026.
These awards are worth anywhere from Rs. 1 lakh to Rs. 2 lakh, and some, like the Aditya Birla Scholarship, are paid every year of the programme. IIM Indore also runs its own Need Based Financial Assistance (NBFA) scheme for students with family income up to Rs. 12 lakh. In this article, we have covered the IIM Indore fee structure 2026, NBFA eligibility and benefits, government scholarships, the full list of corporate scholarships won by students, their amounts and selection process, and other major achievements.
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IIM Indore Scholarships – Overview
| Particulars | Details |
|---|---|
| Institute | Indian Institute of Management (IIM) Indore |
| Location | Prabandh Shikhar, Rau-Pithampur Road, Indore – 453556, Madhya Pradesh |
| Programmes Covered | PGP (MBA), IPM, PGP-HRM, EPGP, FPM / DPM |
| Institute’s Own Aid | Need Based Financial Assistance (NBFA) |
| NBFA Income Limit | Family income up to Rs. 12 lakh per year |
| NBFA Benefit | 50% to 100% reimbursement of education loan interest + mess support |
| NBFA Merit Award | Equal to one year’s tuition fee (for top NBFA recipients) |
| Major External Scholarships | Aditya Birla, YES Bank, OPJEMS, Capital First, DHL GoTrade GBSN Fellowship |
| Highest External Scholarship | Rs. 2 lakh (YES Bank Scholarship) |
| Recurring Scholarship | Aditya Birla Scholarship – Rs. 1.75 lakh per year |
| Latest Award | DHL GoTrade GBSN Fellowship 2026 |
| Official Website | iimidr.ac.in |
IIM Indore Fee Structure 2026 (Why Scholarships Matter)
Before looking at scholarships, it helps to know what a student actually pays. IIM Indore’s official fee structure for 2026 is given below.
PGP (MBA) Fee 2026-28 – Indian Students (via CAT)
| Fee Head | Year 1 (2026-27) | Year 2 (2027-28) |
|---|---|---|
| Course Fee | Rs. 12,00,000 | Rs. 12,00,000 |
| Alumni Fee (incl. 18% GST) | – | Rs. 11,800 |
| Refundable Caution Deposit | Rs. 50,000 | – |
| Mess Deposit | Rs. 54,000 | – |
| Total | Rs. 13,04,000 | Rs. 12,11,800 |
IPM Fee 2026-31 – Domestic Students (via IPMAT)
| Fee Head | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Course Fee | Rs. 6,00,000 | Rs. 6,00,000 | Rs. 6,00,000 |
| Refundable Caution Deposit | Rs. 50,000 | – | – |
| Mess Deposit | Rs. 54,000 | Rs. 54,000 | Rs. 54,000 |
| Total | Rs. 7,04,000 | Rs. 6,54,000 | Rs. 6,54,000 |
For Years 4 and 5, IPM students pay the same fee as PGP students. Fees can be paid in three term-wise instalments each year. International students pay Rs. 9 lakh per year (IPM Years 1–3) and Rs. 18 lakh per year (PGP).
With the PGP alone costing over Rs. 25 lakh, most students take an education loan. This is why IIM Indore’s NBFA scheme is built around education loan interest.
Also Read: KUHS First MBBS Supplementary (SAY) Revised Time Table 2026 Out – Check Exam Dates
IIM Indore Need Based Financial Assistance (NBFA)
NBFA is IIM Indore’s own scholarship scheme. Its aim is that no student should have to leave the institute for financial reasons. It is open to students of PGP, PGP-HRM and IPM.
NBFA Eligibility and Benefits
| Family Income (per year, all sources) | Loan Interest Reimbursement | Other Benefit |
|---|---|---|
| Up to Rs. 4,50,000 | 100% of interest on the education loan used to pay fees | Rs. 4,500 per month for 10 months towards mess fee |
| Rs. 4,50,001 to Rs. 12,00,000 | 50% of education loan interest | – |
Who is not eligible: Families that own more than one building (residential or commercial), or hold movable assets such as FDs and shares worth more than Rs. 10 lakh.
Important Conditions
- The student must have taken an education loan from a scheduled bank and used it to pay fees. The NBFA amount is paid directly to the bank.
- The maximum aid is roughly equal to the interest that builds up on the loan while the student is at IIM Indore.
- Students admitted under the EWS, SC, ST, OBC or PwD categories can also apply if they meet the income criteria.
- Disciplinary records are also considered.
NBFA Selection Process
- Stage 1 – Application review: The NBFA Committee assesses each student’s financial need from the form and documents.
- Stage 2 – Personal interaction: Shortlisted students meet the committee, which checks their financial details.
- Final decision: Aid is awarded based on both stages. The Director of IIM Indore is the appeal authority.
How to Apply for NBFA
The NBFA application has five parts:
- Part I: Personal details, family income and funds, signed by the student
- Part II: Income declaration by the parent or guardian
- Part III: NBFA datasheet (Excel), uploaded through a Google Form with supporting documents
- Part IV: Signed instructions sheet
- Part V: FAQs
Forms are submitted to the PGP Office (PGP and IPM Years 4–5), the IPM Office (IPM Years 1–3) or the PGP-HRM Office. In 2024-25, the deadline was 15 September. Late or incomplete forms are not considered.
NBFA Merit Award
To reward NBFA students who do well in studies, IIM Indore gives a merit award equal to one full year’s tuition fee.
| Programme Year | Number of Awards |
|---|---|
| PGP Year I | 3 |
| PGP Year II | 3 |
| IPM Year I | 1 |
| IPM Year II | 1 |
| IPM Year III | 1 |
| PGP-HRM Year I | 1 |
| PGP-HRM Year II | 1 |
Conditions: The student must be an NBFA recipient that year, be in the top 30% of the batch by CGPA, have a CGPA of at least 3.0, and finish the programme in the minimum time. The award is given at convocation. If the student already gets another fee scholarship, only the difference is paid.
Note: These details are from IIM Indore’s NBFA 2024-25 scheme, the latest official version available. Check iimidr.ac.in for any revision for 2026-27.
Government Scholarships for IIM Indore Students
Apart from NBFA, eligible IIM Indore students can apply for central government scholarships, mainly through the National Scholarship Portal:
| Scholarship | Offered By | For Whom |
|---|---|---|
| Top Class Education Scheme for SC Students | Ministry of Social Justice & Empowerment | SC students in notified top institutes, including IIMs |
| National Fellowship and Scholarship for Higher Education of ST Students (Top Class) | Ministry of Tribal Affairs | ST students in notified top institutes |
| Merit-cum-Means Scholarship | Ministry of Minority Affairs | Students from minority communities with good marks and low family income |
Income limits and amounts for these schemes change from year to year, so check the latest notice on the National Scholarship Portal before applying.
List of Scholarships Won by IIM Indore Students
| Scholarship / Fellowship | Student(s) | Programme & Batch | Year | Amount |
|---|---|---|---|---|
| DHL GoTrade GBSN Fellowship | Chitragari Sai Vinesh | IPM 2021-26 | 2026 | 7-month fellowship with DHL mentorship |
| Aditya Birla Scholarship | Abhinav Palaparthy, R. Gokul, Burhan Ashraf, Shamayeta Chowdhury | PGP 2021-23 | 2021-22 | Rs. 1,75,000 per year each |
| Aditya Birla Scholarship | Namrata Vinayak Nerurkar | PGP 2019-21 | 2019 | Rs. 1,75,000 per year |
| YES Bank Scholarship | Urvashi Saboo | PGP 2018-20 | 2019 | Rs. 2 lakh |
| OP Jindal Engineering & Management Scholarship (OPJEMS) | Navni Bhatia | PGP 2017-19 | 2018-19 | Rs. 1.5 lakh |
| Aditya Birla Scholarship | Tejas Saxena | PGP 2018-20 | 2018 | Rs. 1.75 lakh per year |
| Capital First MBA Scholarship | Divya Surana | PGP 2018-20 | 2018 | Rs. 1 lakh per year |
| YES Bank Scholarship (YES ASPIRE to Innovate) | Lal Chand Poonia, Shruti Aran | PGP | – | Rs. 2 lakh + mentorship + PPI |
| BRICS Shanghai Summer School, Fudan University | Ajinkya Mahajan | PGP 2015-17 | 2016 | Selected among 5 from India |
PPI = Pre-Placement Interview.
Latest: IIM Indore IPM Student Selected for DHL GoTrade GBSN Fellowship 2026
Chitragari Sai Vinesh, an IPM 2021-26 student, has been selected for the DHL GoTrade GBSN Fellowship 2026. The fellowship is run jointly by Deutsche Post DHL Group (DPDHL) and the Global Business School Network (GBSN).
| Particulars | Details |
|---|---|
| Fellowship Type | Merit-based global experiential programme |
| Who It’s For | Postgraduate business students |
| Duration | 7 months, starting March 2026 |
| What Fellows Do | Work with SMEs in developing and least-developed countries on trade and logistics problems |
| Benefits | Mentorship from DHL leaders, global learning sessions, hands-on SME projects |
Selection process: Candidates were judged on academic record, work and leadership experience, written essays, and a video statement. Sai Vinesh applied through a global open call after joining the GBSN Changemakers network via the Global Business Student Changemaker Program (2025).
Major Scholarships: Amount and Selection Process
1. Aditya Birla Scholarship
- Started: 1999, by the Aditya Birla Group
- Amount: Rs. 1,75,000 per year, for both years of the PGP
- Who can apply: Students of select top B-schools, including IIM Indore. Only a small group of top-ranked students from each institute is shortlisted at the time of admission.
- Competition: In 2021-22, 340 applications were received nationwide for 15 scholarships. 36 were shortlisted by an apex board chaired by Kumar Mangalam Birla. IIM Indore students won 4, the highest of any institute that year and a first for IIM Indore.
- Selection process: Essays on career goals and achievements, shortlisting based on academics, then a personal interview in Mumbai with a panel of senior industry leaders.
- Renewal: Scholars are reviewed every year on academic and leadership performance before the next year’s amount is released.
- Track record: IIM Indore students have been selected for this scholarship every year since 2015.
2. YES Bank Scholarship
- Amount: Rs. 2 lakh, plus mentorship by YES Bank leaders and a Pre-Placement Interview (PPI)
- Competition: 5,000+ applications; only 30 scholars selected across India
- Selection process: Profile shortlisting, aptitude test, interview and article submission
3. OP Jindal Engineering and Management Scholarship (OPJEMS)
- Amount: Rs. 1.5 lakh (covers part of the academic fee)
- Competition: Students from 40 colleges; 100 scholars selected
- Selection process: Online test, psychometric assessment and personal interview with an industry panel
4. Capital First MBA Scholarship
- Amount: Rs. 1,00,000 per year
- Competition: 1,000+ applicants; 160 shortlisted for 2018-20
- Selection process: Shortlisting on Class 10, Class 12 and graduation marks, followed by two rounds of telephonic interviews
Prize Money Won by IIM Indore Students in National Competitions
Apart from scholarships, IIM Indore students earn large cash prizes in corporate case and business competitions.
| Competition | Result | Year | Prize Money |
|---|---|---|---|
| PwC Whitepaper Competition (#PwCEngage) | National Winner (330+ teams) | 2022 | Rs. 50,000 |
| Myntra Stylbiz Competition | National Winner (5,000+ participants) | 2021 | Rs. 2 lakh |
| AIMS Strategy Simulation Competition | Winner, 1st & 2nd Runner-up | 2021 | Rs. 50,000 / 20,000 / 15,000 |
| Airtel iCreate | 2nd Runner-up (1,400+ students) | 2019 | Rs. 75,000 |
| AIMS Conscious Capitalism Simulation | Winner | 2019 | Rs. 50,000 |
| HUL LIME Season 9 | National Winner | 2018 | Rs. 10 lakh |
| Tata Steel Steel-a-thon | 1st Runner-up | 2017 | Rs. 1.5 lakh |
| Pinnacle (Marketing Case Study) | National Winner | 2017 | Rs. 1 lakh |
| Google Online Marketing Challenge | Asia Pacific Winner (12,000 students, 65+ countries) | 2017 | – |
| Reliance – The Ultimate Pitch | 1st Runner-up | – | Rs. 1.5 lakh |
| Tata Steel Steelathon | Winner | – | Rs. 2.5 lakh |
More Competition Wins by IIM Indore Students
| Competition | Result | Year | Prize |
|---|---|---|---|
| Tata Crucible Campus Quiz | Winner & Runner-up | 2019 | Rs. 75,000 & Rs. 35,000 |
| BLoC Case Contest | 1st Runner-up | 2019 | – |
| NTPC Electron Quiz National Finale (800 teams) | Winner | 2018 | Rs. 25,000 each |
| AIMS Conscious Capitalism Simulation | 1st Runner-up | 2018 | Rs. 38,000 |
| Tata Crucible – The Business Quiz | Winner & Runner-up | 2018 | Rs. 75,000 & Rs. 35,000 |
| Short film contest (TCWG & MAAC) | First Prize | 2018 | Rs. 11,000 |
| RBI Policy Challenge | 1st Runner-up (national) | 2017 | Rs. 50,000 |
| HUL LIME Season 8 | 2nd Runner-up | 2017 | Rs. 1 lakh |
| Hero Challenge Season 2 | 2nd Runner-up | 2016 | Rs. 75,000 |
| Nestle 4Ps Challenge | National Runner-up | 2016 | Rs. 60,000 + PPIs |
| FMS-IRM Spardha Summer Project | First Prize (Marketing) | 2016 | Rs. 21,000 |
| Nomura Investment Bank Case Study | Winner | 2015 | MacBook Air |
Other Notable Awards and Honours
- Anita Sharma (FPM 2016) received the Positive Health Award with Rs. 1 lakh prize money for her initiative ‘Drive on My Own’, which has taught driving to 52 people with reduced mobility. She was also the first person from the IIMs to receive the India Inclusion Fellowship.
- Shoumik Bose (IPM 2015-20) was named among the Top Competitive Business Leaders of India 2019. He was the only first-year MBA student on the list.
- Subhendu Pattnaik (FPM-Industry) won the Top 100 Most Influential Marketers Award (2015 and 2016) and the Outstanding Corporate Citizen Award 2016.
- Bhuvanagiri Chandrasekhar (FPM-Industry 2016) received the Outstanding Business Performance Award 2018 on behalf of India Post’s Telangana Circle.
- Aditya Gulia (IPM 2017-22) won Rs. 3.2 lakh on Kaun Banega Crorepati 11 in 2019.
- Rashmi Shukla and Prasenjit Chakrabarti (FPM) won Best Paper Awards at COSMAR15, IISc Bangalore.
- Two IIM Indore cases were ranked in the top 10 of the ISB-Ivey Global Case Competition 2015.
Tips to Win a Scholarship at IIM Indore
- Keep your academic record strong: Most scholarships shortlist on Class 10, Class 12 and graduation marks.
- Write clear essays: Aditya Birla and DHL GBSN both ask for written submissions on goals and achievements.
- Take part in competitions: Wins in case and business competitions strengthen your profile.
- Prepare for interviews: Final rounds usually involve a panel of senior industry leaders.
- Watch institute notices: Some opportunities, like the GBSN Changemaker Program, are shared by the institute first.
FAQs on IIM Indore Scholarships
Which scholarships do IIM Indore students usually win? The Aditya Birla Scholarship, YES Bank Scholarship, OPJEMS, Capital First MBA Scholarship and the DHL GoTrade GBSN Fellowship.
What is the amount of the Aditya Birla Scholarship? Rs. 1,75,000 per year.
How many IIM Indore students won the Aditya Birla Scholarship in 2021-22? Four students from PGP 2021-23 won it, out of 15 scholarships given nationwide.
Which is the highest single scholarship won by IIM Indore students? The YES Bank Scholarship of Rs. 2 lakh.
Who won the DHL GoTrade GBSN Fellowship 2026 from IIM Indore? Chitragari Sai Vinesh, a student of IPM 2021-26.
Can IPM students also win scholarships at IIM Indore? Yes. The DHL GBSN Fellowship 2026 was won by an IPM student, and IPM students have also won several national competitions.
Does IIM Indore give its own scholarship? Yes. IIM Indore runs the Need Based Financial Assistance (NBFA) scheme for PGP, PGP-HRM and IPM students.
What is the income limit for IIM Indore NBFA? Family income from all sources must be up to Rs. 12 lakh per year. Students with income up to Rs. 4.5 lakh get the highest support.
Is an education loan compulsory for NBFA? Yes. NBFA reimburses the interest on an education loan taken from a scheduled bank and used to pay fees.
How much NBFA support do low-income students get? Students with family income up to Rs. 4.5 lakh get 100% loan interest reimbursement plus Rs. 4,500 per month for 10 months towards mess fees.
What is the NBFA merit award? It is an award equal to one year’s tuition fee, given to NBFA recipients in the top 30% of their batch with a CGPA of at least 3.0.
What is the IIM Indore PGP fee for 2026-28? The course fee is Rs. 12 lakh per year. With deposits and alumni fee, the two-year total is about Rs. 25.16 lakh.
What is the IIM Indore IPM fee for 2026-31? The course fee is Rs. 6 lakh per year for Years 1 to 3. For Years 4 and 5, students pay the PGP fee.
Can SC, ST and OBC students apply for NBFA? Yes, if they meet the income and asset conditions. They can also apply for central government scholarships on the National Scholarship Portal.
