The IndusInd Foundation Scholarship 2024 is a merit-cum-means scholarship offered by the IndusInd Foundation in India to support deserving undergraduate students from economically weaker sections of society. This comprehensive guide provides an in-depth look at the key aspects of this scholarship opportunity.
Education is the most powerful tool for socio-economic mobility. However, many meritorious students from underprivileged backgrounds cannot afford quality higher education due to financial constraints. This negatively impacts both their individual growth trajectories as well as the nation’s overall development.
Scholarships help bridge this gap by providing financial assistance to deserving students. They facilitate access to better educational opportunities which can empower individuals to lift themselves and their families out of poverty in a sustainable manner.
The IndusInd Foundation Scholarship is one such initiative that aims to promote higher education among financially challenged yet talented students. Read on to learn more about this scholarship instituted in 1995 by the IndusInd Bank through its Corporate Social Responsibility(CSR) arm, the IndusInd Foundation.
II. Background of the IndusInd Foundation
The IndusInd Foundation was established in 1995 by the Hinduja Group when they acquired an equity share in Ashok Leyland Finance Ltd. This finance company was then restructured to establish the IndusInd Bank Ltd. in 1994.
The Foundation was created with the goal of providing education to underprivileged children across India. Over the years, through its various scholarship schemes, the IndusInd Foundation has supported the higher education of thousands of financially weak but meritorious students.
Some of the past initiatives of the Foundation include:
- Building and supporting schools in rural areas.
- Instituting scholarships for school to college transitions.
- Vocational skill-building programs.
- Digital literacy programs.
The IndusInd Foundation scholarship itself was launched in 1999. Since then thousands of students have benefitted from this financial aid.
III. Overview of the Scholarship
The IndusInd Foundation scholarship 2024 invites applications from students who have passed their 12th board exams in 2023 and have secured admission in regular undergraduate degree programs in India.
Government colleges remain the primary partners for the implementation of this scholarship program which aims to support meritorious students facing financial difficulties.
Both the student’s academic ability as well as economic background are assessed to determine the scholarship amount and its continuation through the course duration.
So in a nutshell:
- Who: 12th pass students admitted in regular undergraduate programs
- Where: Government colleges across India
- Why: Support higher education of meritorious but needy students
- What: Financial assistance in the form of a monthly stipend
In a nutshell, this scholarship aims to reward merit and provide leverage to deserving candidates to pursue quality higher education.
IV. Eligibility Criteria
The key eligibility criteria for the IndusInd Foundation Scholarship 2024 are:
- Students should have passed 12th board exams in 2023 with at least 60% aggregate marks.
- They must have secured admission in regular under-graduate degree programs like B.A, B.Sc, B.Com, BCA, BBA.
- Students pursuing engineering, medical, para-medical courses in government colleges can also apply.
- Applicants must produce marksheets of their 10th, 11th and 12th board exams.
- The student’s annual family income must be below INR 4 Lakh per annum.
- Supporting income certificates are required to be submitted along with the application.
- This scholarship is only available for studies in government colleges in India.
- Only Indian nationals can apply.
- Students must have a savings bank account in their name for the scholarship transfer.
So in summary, strong academic background + financial need + studying in govt. college = potential eligibility.
V. Scholarship Benefits
The key advantages offered to select IndusInd scholarship awardees are:
- Monthly Stipend: Selected students receive a monthly stipend directly credited to their bank accounts for their graduation duration subject to satisfactory performance.
- Amount Varies: Depending on the student’s grades and economic need, the stipend may range from INR 600 to INR 2200 per month.
- One-time Payment: First year students receive 2 months’ stipend together as a one-time payment. Renewal happens every 6 months.
In a nutshell, this covers a portion of major undergraduate expenses like tuition fees, hostel fees, mess charges, books & supplies for awardees.
VI. Application Process
Eligible students willing to apply for the IndusInd scholarship 2024 can follow these step-by-step instructions:
Step 1: Check Eligibility
First, students must check if they meet the eligibility criteria shared in the section above before proceeding to apply. Applications failing to fulfil the academic requirements are liable to get rejected.
Step 2: Download Application Form
- Eligible students can then access and download the application form available online on the IndusInd Foundation portal a few weeks/months before the deadline.
- Alternatively, they can also collect hard copies of the application forms from nodal officers in partner government colleges.
Step 3: Read Guidelines
- Applicants must read through the application guidelines carefully before filling the form.
- All required documents should be arranged systematically beforehand for submission.
- Any queries can be directed to the IndusInd Foundation via the contact information provided.
Step 4: Fill Application Form
- Applicants need to provide all essential details like personal information, family income, 12th board scores, college/course name etc. accurately in the form.
- They also need to choose three government colleges where they wish to avail the scholarship.
Note: Neat and accurate documentation is essential for smooth processing of applications.
Step 5: Attach Documents & Submit
- Relevant academic and income documents need to be self-attested and attached with each application form.
- The completed application must be submitted either online via the portal or offline to partner colleges before the deadline which is tentatively September 30, 2024.
So in summary – check eligibility, get form, read guidelines, fill details, attach documents & submit application correctly before deadline.
VII. Required Documents
The key documents IndusInd Foundation scholarship aspirants need to attach along with their filled applications are:
- 10th & 12th Marksheets and Passing Certificates
- recent Passport Size Photographs
- School/College ID card copy
- Family Income Certificate
- BPL card (if applicable)
- Aadhar card
Other Relevant Documents
- Fee Receipts/Expenditure Statements
- Bank Account Details
- Bonafide Certificate from current institution
So in brief – academic, income & other supporting credentials required to evaluate application.
VIII. Deadline and Contact Information
Key dates and contact details are:
- Application Deadline: September 30, 2024 tentatively. Applicants must track website for updates.
- Scholarship Website: www.theindusindfoundation.org
- Email Address: email@example.com
- Phone Number: 022-72344298
- Office Timings: 10 AM to 5 PM, Monday to Friday
In case of queries, applicants should feel free to contact the Foundation office during working hours or write email/queries via website.
IX. Renewal and Continuation
The IndusInd scholarship awardees need to fulfil the following renewal criteria for receiving continued financial assistance:
- Maintain a minimum score of 60% marks or equivalent grade in subsequent semesters/years.
- Regularly share updated marksheets with the Foundation via nodal officers.
- Eligibility will be reassessed carefully during renewal review cycles.
- Submit a renewal request and required documents when notified by the Foundation.
In case of failure to meet academic criteria, financial support may be withdrawn. Students facing genuine difficulties can bring it to the notice of the Foundation.
The IndusInd Foundation Scholarship 2024 is an excellent opportunity for competent but financially constrained students to fund their higher education dreams and build their careers.
This merit-cum-means scholarship intends to support deserving candidates without regard to caste, creed or gender. Students who meet all the eligibility criteria should apply well before the deadline following all guidelines.
The application procedure, while slightly elaborate, is quite transparent and streamlined. Applicants who put together all documentation accurately and communicate effectively have a good chance of selection.
The monthly stipends offset the rising education costs to an extent for students from disadvantaged backgrounds who secure admission in government undergraduate programs based on merit. This empowers them to focus on learning instead of worrying about expenses.
The holistic support can equip these promising students with the wings needed to fly high not just for individual success but also for contributing meaningfully to the nation at large.
So if you are an eligible student, do apply for this scholarship without hesitation and soar high powered by knowledge!