ICAI/THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Scholarship Scheme (Updated from 10th,2016)
The Board of Studies awards various Scholarships to students, namely, Merit, Merit -cumNeed based and Need-based and Weaker Sections twice a year i.e. in the month of April and October. The announcements are released in the Student’s Journal-“The Chartered Accountant Student” calling applications for awarding the scholarships in March & September issues 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:
- 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) Examinations. |
Period of
Scholarships (months) |
Amount (p.m) | |
| Merit
Scholarship
|
30 or remaining period of
articleship whichever is less |
Rs.2000/- | |
| MERIT-CUMNEED | All Students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Intermediate (IPC)
Examinations No. of Scholarships – 30 |
30 or remaining period of articleship whichever is less | Rs.1500/- |
| Categories
|
No. of Scholarships | For Intermediate (IPC) Students | For Final Students | ||
| Period of
Scholarships (months) |
Amount (p.m) | Period of
Scholarships (months) |
Amount (p.m) | ||
| NEED-BASED & WEAKER
SECTIONS |
550
(250 for Inter. 300 for Final) |
18 | Rs.1250/- | 30 or remaining period of
articleship whichever is less |
Rs.1250/- |
| As per eligibility criteria | The children undergoing Intermediate (IPC) 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. | ||||
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- 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) Examination held in May/November every year are awarded Merit Scholarship o f Rs. 2000/- per month. Rank holders of Intermediate (IPC) 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.
- 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) Ex am in ati on and t h ei r parents t o t a l i n c o m e is not be more than Rs.1,50,000/- * per annum are eligible to apply for award of Meritcum-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. Total 30 scholarships are awarded every year under this category.
- Need-based and weaker sections Scholarship: Students of Intermediate (IPC) and Final Course are eligible to apply for award of Need- based Scholarships provided their parents’ annual income is not more than Rs.1,00,000/- * 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) students and for a maximum period of 30 months/remaining period of articleship whichever is less to Final students. Total 550 scholarships (250 for Intermediate (IPC) and 300 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.
* Income Certificate is to be submitted in Form No. 4 for being eligible on the letter head of the Principal by the Student undergoing Articleship (Practical Training) (Part I) / letter head of any member of ICAI by the Student not undergoing Articleship (Part-II).
While selecting candidates the performance of their CPT/ Graduation / Intermediate (IPC) 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) 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)/Final Examination in the first two eligible chances.
- 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.
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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)/Final Course |
| 2. | R.K. Khanna Memorial Scholarships Memorial Charitable Society | s6t uscdehonltas rsohf iKaps r@na Rtask.1250a Sta/t-e .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. |
b)Joint Corpus by following donors:15 Scholarships @ Rs. 1250/-p.m
| S.No | Name of Donors |
| 1. | H.L. Khanna Memorial Fund sponsored by Mrs. Reva Khanna, N.Delhi |
| 2. | Joginder Singh & Amrik Kaur Memorial Fund sponsored by Rabinder Pal Singh, New York, U.S.A. |
| 3. | Satish Khanna Memorial Fund through Mrs. Reva Khanna, New Delhi |
| 4. | Shorilal Kapoor Memorial Fund from CA. S.S. Kapoor |
| 5. | Mrs. Bhagirathi Devi Shriniwasji Rathi Memorial Fund from M/s. Jugal S. Rathi, Pune. |
| 6. | Sourangshu Ghosh Memorial Scholarship from Mrs. Nabanita. |
| 7. | A.V.K. Vinod Jain Scholarships sponsored A.V.K. Charitable Trust,Delhi |
| 8. | Charles Lambert & Co., Scholarships (B. L Shah Memorial endowment fund) from Vidyut Harshit & Co., Mumbai |
| 9. | B.S. Vaid Memorial Scholarships, Scholarships from Ms. Sangeeta Vaid, New Delhi. |
| 10. | Bodapati Rajanna Endowment Scholarship from Ms. D.V.N.S. Satyavati, Chennai |
| 11. | Doha Chapter Scholarship Awarded by Doha Chapter of I.C.A.I. |
| 12. | Maliram and Jasoda Devi Chanani Scholarship sponsored by Madhu S.
Chanani, Jwala P. Chanani, Sudha Chanani & Lata Chanani) Torrance, U.S.A. |
| 13. | Smt. Prakashwati Scholarships sponsored by Mr. A.K. Jain, New Delhi |
| 14. | Ram Kumar Endowment Fund Scholarships sponsored by Ram Kumar Charitable Trust, Muzaffrnagar |
| 15. | S. Vaish Memorial Scholarships from Judo Prasad Mool Chand Public Charitable Trust, Kanpur |
| 16. | Saradamba Visweswaraiya Scholarship from Mrs. V. Saradamba & Mr. B.S. Visweswareaiya, Bangalore |
| 17. | Shailesh Kapadia Memorial Scholarship from Shailesh Kapadia Memorial Trust, Mumbai |
| 18. | B. Rajanna (Sri Sarada Education Trust) Scholarship sponsored by Sri Sarada Education Trust, Chennai |
| 19. | V. Kumar Memorial Scholarship from Sh. K. Viswanathan, Chennai |
| 20. | Yogi Lajpatrai Sharma Scholarship from Yogi Sharma, Coto De Caza, U.S.A. |
| 21. | S.V. Ghatalia Foundation Scholarship |
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- Procurement of Scholarship Application Form: The Application Forms to apply for Scholarship in the prescribed formats (Form No. 3 & 4) and Form No. 2 to claim further instalments can be downloaded from the web site of the Institute
(www.icai.org) at the link: http://220.227.161.86/20326scholarscheme.pdf ).
- Submission of Scholarship Application Form: The duly completed Scholarship Application Form should reach to The Director, Board of Studies, The Institute of Chartered Accountants of India, ICAl BHAWAN, A-29, Sector – 62, NOIDA- 201 309, before the last date i.e 31st March for April term and 30th for October term as per the announcement hosted at the ICAI Website and published in the Student’s Journal “The Chartered Accountant Student” in March and September respectively.
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