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National

Magma to offer Scholarships to Meritorious Students from underprivileged families

June 13, 2018 07:17 PM

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 a young country aspiring to grow. While the primary and upper primary education is free in India, a significant number of children drop out of the school because of their poor socio-economic background. Some of the reasons for this drop out include Poverty, lack of opportunities for students living in villages and poor infrastructure facilities especially for the girl children in remote parts of the country. This results in school and college drop outs of students who are otherwise talented and meritorious.

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

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

Scholarship Details:
• Student must be citizen of India
• Maximum age of applicant as on 15th August 2018 – 20 years
• Scholarship will be granted to students for 3 year degree courses in general stream or 4 years professional/ specialized courses in engineering, medical, law etc.
• Applicant should have secured minimum 80% marks in school passing out board exam (class XII) in their respective state boards
• Students from families having monthly household income of less than Rs. 10,000/- (Rupees ten thousand only) are eligible to apply for this scheme

Application procedure:

Interested and eligible students can send their application to the office of Magma Fincorp Ltd. with the following documents:
1. Application letter seeking to be enrolled into the scheme
2. Attested photocopy of the Class XII mark 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 (for undergraduate course)
8. Bank account details
9. Character Certificate from School last attended

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