Magma to offer Scholarships to Meritorious Students from underprivileged families

Bangalore, 21st June 2018: Magma Fincorp Ltd., has announced M Scholar, a well-recognized scholarship programme for meritorious students from underprivileged families. During the past three years, Magma had awarded scholarships to 200 students.

India is ayoung country aspiring to grow.  Whilethe primary and upper primary education is free in India, a significant numberof children drop out of the school because of their poor socio-economicbackground. Some of the reasons for this drop out include Poverty, lack ofopportunities for students living in villages and poor infrastructurefacilities especially for the girl children in remote parts of the country.This results in school and college drop outs of students who are otherwisetalented and meritorious.    

Keepingalive the motto of ‘investing in the smallest dreams’, Magma started offeringfinancial assistance in form of scholarships to such students in 2015 under“M-Scholar”.  Students are selected onthe basis of their academic performance and socio-economic background.

Speaking tothe media, Mr. Kaushik Sinha, Vice President, CSR, Corporate Communications& Admin, Magma Fincorp Ltd, elaborated on the initiative and theapplication procedure. “Magma is happy to announce a new batch of M-Scholarthis year. M Scholar is helping shape destiny of 200 meritorious students fromunderprivileged families and a new batch of students will now benefit fromthis.”, Said Mr. Sinha.


•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 (classXII) 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


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

1.             Application letter seeking to beenrolled into the scheme

2.             Attested photocopy of the Class XIImark sheet

3.             Set of two passport photographs

4.             Age proof (School certificate/Admin card)

5.             Address proof and Identity proof

6.             Income certificate of parent(Monthly Household Income must be Rs. 10,000/ or less per month)

7.             College admission proof (forundergraduate course)

8.             Bank account details

9.             Character Certificate from Schoollast attended

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