Scholarship Scheme in ICAI

BOARD OF STUDIES

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
Scholarship Scheme (Updated from April, 2018)

The Board of Studies awards various Scholarships to students, namely, Merit, Merit-cum- Need based and Need-based and Weaker Sections twice a year i.e. in the month of April and October. The announcements are released in March & September issues of the Student’s Journal-“The Chartered Accountant Student” calling applications for awarding the scholarships and also hosted on the website of the Institute. The students are required to apply in prescribed Scholarship Application Form. The details of scholarships and the criteria applied for selection of applicants are as under:

  1. Scholarships awarded
Categories For Final Students
The students whose names appear at Sl. No. 1 to 10 and in case the rank at Sl. No. 10 continues to Sl. No.11 or to Sl. No. 12 or so on, then all such rank holders of Intermediate (IPC)/ Intermediate Examinations. Period of Scholarships
(months)
Amount
(p.m)
Merit
Scholarship
30 or remaining period of articleship whichever is less Rs.2000/-
MERIT-CUM-
NEED based
All Students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Intermediate (IPC)/ Intermediate Examinations 30 or remaining period of articleship whichever is less Rs.1500/-

 

(i) Merit Scholarship: The students whose names appear at Sl.No.1 to 10 (in case the rank at Sl. No. 10 continues to Sl. No. 11 or to Sl. No. 12 or so on, all such rank holders) of the Merit lists of Intermediate (IPC)/ Intermediate Examination held in May/November every year are awarded Merit Scholarship o f Rs. 2000/- per month. Rank holders of Intermediate (IPC)/ Intermediate registered for Final Course will get Scholarship for a maximum period of 30 months/remaining period of their articleship whichever, is less. Hence they are not required to apply.
(ii) Merit-cum-Need based Scholarship: All students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Intermediate (IPC)/ Intermediate Examination and their parents total income is not be more than Rs.2,50,000/- * per annum are eligible to apply for award of Merit-cum-Need scholarship. The students who would be selected for award of scholarship under this category will be granted @ Rs. 1500/- p.m for a maximum period of 30 months/remaining period of articleship whichever is less on being registered for Final Course.
(iii) Need-based and weaker sections Scholarship: Students of Intermediate (IPC)/ Intermediate and Final Course are eligible to apply for award of Need- based Scholarships provided their parents’ annual income is not more than Rs.2,00,000/-* per annum. The students who would be selected for award of scholarship will be granted @ Rs. 1250/- p.m for 18 months to Intermediate (IPC)/ Intermediate students and for a maximum period of 30 months/remaining period of articleship whichever is less to Final students. Total 1000 scholarships (600 for Intermediate (IPC)/ Intermediate) and 400 for Final Course Students) are awarded every year under this category. Two scholarships are reserved every year for physically handicapped students. For SC/ST/OBC category students, an additional amount of Rs.100/- p.m. will be paid on submission of a certificate/ documentary proof duly attested by a member of the Institute.

  While selecting candidates the performance of their CPT/Foundation/ Graduation / Intermediate (IPC)/ Intermediate, as the case may be, as well as parents’ income are taken into consideration. Physically handicapped students or those who do not have any earning member in their family are given preference.

Over and above the number of scholarships under this category, the children undergoing Intermediate (IPC)/ Intermediate or Final Course of the deceased members of ICAI where financial assistance is provided to spouses of the deceased members from the Chartered Accountants Benevolent Fund (CABF) shall also be eligible for scholarship.

The payment of scholarship is liable to be discontinued in each category in case the recipient does not pass the Intermediate (IPC)/ Intermediate/Final Examination in the first two eligible chances.B

2. Scholarships under Endowment Schemes: In addition to the above,
scholarships are also awarded under different Endowment Schemes created by individual donors/ Joint Corpus formed by donors. The criteria applied are the same as in case of Need  – based scholarship.

Details of Scholarships awarded by the Institute from the Endowments received from the donors:
a) Individual Donors (10 Lakhs & above):

Sl.
No
Name of the Scholarship Number and amount of scholarships
1. Sri Dhanraj Kanhaiyalal Dudheria
Scholarship
16 scholarships @ Rs.1250/- p.m. for Intermediate (IPC)/ Intermediate/ Final Course students of Karnataka State.
2. R.K. Khanna Memorial Scholarships Memorial Charitable Society 6 scholarships @ Rs.1250/- p.m.
3. J.S Lodha Memorial 6 scholarships @ Rs.1250/- p.m.
4. J.M. Sethia Charitable Trust Scholarships 6 scholarships @ Rs.1250/- p.m.
5. BCCO Foundation Scholarships 6 scholarships @ Rs.1250/- p.m.