Magma offers 100 Scholarships to Under Graduate students

Bangalore, 15th June 2017: 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 50 scholarships in each year and already has 99 students availing the scheme, which include 39 students from Engineering and Medical streams. 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.

Left to Right-  Chetan a student from Vijaya collage receiving scholarship from  Mr. Kaushik Sinha, Vice President, Magma Fincorp Ltd.

Ever yyearmany meritorious students hailing from poor families are forced to discontinuetheir higher education due to lack of funds. Keeping alive their motto of ‘investing in the smallest dreams’, Magmaoffers financial assistance in form of scholarships to such students every yearunder their scheme“M-Scholar”.  Studentswill be selected on the basis of their academicp erformance and socio-economic backgroundof their families who are unable to support their children to continue studies.

Speaking tothe media, Mr. Kaushik Sinha, Vice President, CSR, CorporateCommunications& Admin, Magma Fincorp Ltd elaborated on the initiative andthe application procedure for this year. “Applications are invited from eligiblestudents from across the country. Till now we offered 50 scholarships everyyear. However, considering the need to reach out to more such meritoriousstudents who are forced to discontinue their students due financial constraintsthis year we will offer 100 scholarships for their under-graduate studies. Thethree year scholarship will be renewable every yearon confirmation of grades inannual exams”, Said Mr. Sinha. 

Magmabelieves that the scholarship will meet a part of the student’s education andrelated expenses while pursuing higher studies.


•100eligible students will be given the scholarship for three years

•Studentmust be citizen of India

•Maximum ageof applicant as on 15th August 2018 – 20 years

•Scholarshipwill be granted to students for 3 year degree courses in general stream or 4years professional/ specialized courses in engineering, medical, law etc.

•Applicantshould have secured minimum 80% marks in school passing out board exam (class XII)in their respective state boards

•Studentsfrom families having monthly household income of less than Rs. 10,000/- (Rupeesten thousand only) are eligible to apply for this scheme


Interestedand eligible students can send their application to the office of Magma FincorpLtd. with the following documents:

1.Applicationletter seeking to be enrolled into the scheme

2.Attestedphotocopy of the Class XII mark sheet

3.Set of twopassport photographs

4.Age proof(School certificate/ Admin card)

5.Addressproof and Identity proof

6.Incomecertificate of parent (Monthly Household Income must be Rs. 10,000/ or less permonth)

7.Collegeadmission proof (for undergraduate course)

8.Bankaccount details

9.CharacterCertificate from School last attended

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