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Scholarship Fees
The Board of Studies grants various Scholarships to students, namely, Merit, Merit-cum-Need based and Need-based scholarships out of the funds of the Institute and Endowment Schemes created by Individual donors/Trusts/Societies. Various scholarships are awarded twice in a year i.e. in the month of April and October every year. Generally its announcements are released in the Students Newsletter “Chartered Accountant Student’. The students are required to apply in prescribed Scholarship Application Form· .The details of scholarships, criteria applied for selection of recipients and Scholarship Application Form to apply for award of scholarship and Forms No. 1 & 2 to claim its installments are given below:
1. Scholarships awarded out of the funds of the Institute
1.1 Merit-cum-Need Scholarship:

All the students whose names appear in the Merit List of Rank holders of the Professional Examinations-I/II are eligible to apply for award of Merit-cum-Need scholarship @ Rs.500/- per month. Rank holders of Professional Examination –I will get scholarship for a period of 18 months and Rank holders of Professional Examination-II will get scholarship for a maximum period of 30 months. However, income of their parents should not be more than Rs.1,50,000/- per annum. 10 scholarships in each Examination (PE-I/II) are awarded every year under this category.

1.2 Need-based Scholarship:

Students of Professional Education Courses-I/II and Final Course are eligible to apply for award of Need-based Scholarships provided their parents’ income is not more than Rs.1,00,000/- per annum. 100 Need-based Scholarships are awarded every year @ Rs.300/- per month for a maximum period of 12 months for PE-I , 18 months for PE-II and 30 months/balance period of articleship for Final Course. The payment of scholarship is liable to be discontinued in case the recipient does not pass the PE-I/II and Final Examination in the first two available chances.

Two scholarships out of the Need-based scholarships being granted by the Institute will be reserved every year for physically handicapped students.

1.3 Scholarships under Endowment Schemes:

In addition to the above, scholarships are also awarded under different Endowment Schemes created by Individual donors/Trusts/Societies and others. The criteria applied are the same as in case of Need-based Scholarships but candidates with top scores are selected first for these scholarships and the remaining cases are considered for Need-based Scholarship.

Presently, there are 35 Endowment Schemes as per details given below:

A. Details of Scholarships awarded by the Institute from the Endowments received from the donors
S.No Name of the Scholarship Number and amount of scholarships

1.

A.V.K./ Vinod Jain Scholarships sponsored A.V.K. Charitable Trust, Delhi

1 scholarship of Rs. 200 p.m. for students of Central & Northern Region

2.

Charles Lambert & Co., Scholarships (B. L Shah Memorial endowment fund) from Vidyut Harshit & Co., Mumbai

4 Scholarships of Rs.250 p.m.each

3.

B.S. Vaid Memorial Scholarships Scholarships from Ms. Sangeeta Vaid, New Delhi.

1 scholarship of Rs.250 p.m. to physically handicapped Students

4.

Mrs. Bhagirathi Devi Shriniwasji Rathi Scholarship from M/s. Jugal S. Rathi, Pune.

1 scholarship of Rs.75 p.m

5.

Bodapati Rajanna Endowment Scholarship from Ms. D.V.N.S. Satyavati, Chennai

1 scholarship of Rs.250 p.m.

6.

Chandu Lal Kapuri Devi Charitable Trust scholarship sponsored by , Chandu Lal Kapuri Devi Charitable Trust Delhi.

1 scholarship of Rs.250/- p.m.

7.

Doha Chapter Scholarship Awarded by Doha Chapter of I.C.A.I.

1 scholarship of Rs.250 p.m. for 3 years

8.

G.D. Salarpuria Foundation Scholarship, sponsored., G.D. Salarpuria Foundation Calcutta

2 Scholarships of Rs 500 each preferably for ST/SC students

9.

Gurbax Singh and Jasvinder Singh Bagga Memorial Scholarship sponsored by S. Gobinder S. Bagga

1 scholarship of Rs.250 p.m. each

10.

H.L. Khanna Memorial Scholarship sponsored by Mrs. Rama Khanna, N.Delhi

1 scholarships of Rs. 250 p.m.each

11.

J.S. Lodha Memorial Scholarship from M/s Lodha Charitable Trust Calcutta

10 scholarships of Rs.300 p.m. each

12.

Joginder Singh & Amrik Kaur Scholarship sponsored by Rabinder Pal Singh, New York, U.S.A.

2 scholarships of Rs. 200 p.m. each to students of Punjab, Haryana & Himachal for 3 years

13.

Maliram and Jasoda Devi Chanani Scholarship sponsored by Madhu S. Chanani, Jwala P. Chanani, Sudha Chanani & Lata Chanani) Torrance, U.S.A.

1 scholarship of Rs.250 p.m. to students of Bihar & West Bengal - particular areas

14.

Nani Binode Endowment Scholarship sponsored by Mr. B.C. Dutta, F.C.A., Calcutta

1 scholarship of Rs.150 p.m. to students of Eastern Region

15.

*Pallonji N. Mehta Scholarship sponsored by M/s. Hiramehta Charitable Trust, Mumbai

1 Scholarship of Rs.500 for students of Western Region

16

Smt. Prakashwati Scholarships sponsored by Mr. A.K. Jain, New Delhi.

2 Scholarships of Rs.250 p.m. each for students of U.P.and Delhi for 1 year

17.

P.S. Krishnan Educational Endowment Fund by P.S. Krishnan & Co.,

1 Scholarship of Rs.250 p.m. for students of Southern Region

18.

Ram Kumar Endowment Fund Scholarships sponsored by Ram Kumar Charitable Trust, Muzaffrnagar

3 Scholarships of Rs.250 p.m. each for students of U.P. for 3 years

19.

Rukmani Devi Banarsilal Satnaliwala Seva Trust, Calcutta

1 scholarship of Rs.500 p.m.

20.

*Rustomji N. Mehta Scholarship sponsored by M/s. Hiramehta Charitable Trust, Mumbai

1 Scholarship of Rs.500 for students of Western Region

21.

S.P Chopra Scholarships from S.P Chopra Charitable Trust, N.Delhi

2 Scholarships of Rs.150 p.m.each

22.

S. Vaish Memorial Scholarships from Judo Prasad Mool Chand Public Charitable Trust, Kanpur

2 scholarships of Rs.200 p.m. each for students of Central Region only

23.

Saradamba Visweswaraiya Scholarship from Mrs. V. Saradamba & Mr. B.S. Visweswareaiya, Bangalore

2 scholarships of Rs.250 p.m. each for students of Karnataka State for one year

24.

Shailesh Kapadia Memorial Scholarship from Shailesh Kapadia Memorial Trust, Mumbai

1 scholarship of Rs.250 p.m.

25.

Satish Khanna Memorial Scholarship through Mrs. Reva Khanna, New Delhi

1 scholarship of Rs. 250 p.m.

26.

B. Rajanna (Sri Sarada Education Trust) Scholarship sponsored by Sri Sarada Education Trust, Chennai

1 scholarship of Rs.250 p.m.

27.

Sultan Chand Memorial Scholarship from M/s Sultan Chand Trust, New Delhi

1 scholarship of Rs.500 p.m.

28.

Sushila Ram Lal Kapur Scholarships sponsored by Mrs. Sushila Kapur London, U.K

2 scholarships each to Final and Inter students @ Rs.100 and Rs.75 p.m. respectively

29.

T.R.Chadha Foundation Scholarships from M/s. T.R. Chadha & Co., New Delhi

2 scholarships of Rs.250 p.m. each preferably for students of Northern Region

30.

V. Kumar Memorial Scholarship from Sh.K. Viswanathan, Chennai

1 scholarship of 150 p.m for students of Southern Region

31.

Yogi Lajpatrai Sharma Scholarship from Yogi Sharma, Coto De Caza, U.S.A.

1 scholarship of Rs.150 to students of Northern Region preferably Punjab & Chandigarh

32.

V. Soundararajan Memorial Scholarships, from Shri V. Soundararajan Memorial Endowment Fund, Chennai

1 Scholarship of Rs. 200/- pm. to students of Chennai who have passed PE-II in one sitting and registered as an articled clerk.

33.

R.K. Khanna Memorial Scholarships from U.C..Khanna Memorial Charitable Society.

5 Scholarships of Rs.300/- p.m.

B. Scholarships awarded by the donor organisations directly to the students for their balance period of articleship.

1. The Likhami Chand Chautmull Kandoi Charitable Trust, Cuttack (5 Scholarships @ Rs. 300 p.m. each payment in two instalments of Rs. 1800 each)

2. Veera Vikraman Memorial Scholarship from Sh. P.A. Veeri Chettiar, Rasipuram (1 Scholarship @ Rs. 1000/- per annum - 2 instalments in June & December of Rs.500 each for students of Tamil Nadu)

2. Selection Process
While selecting the recipients, Rank Holders whose name appear from S.No. 1-3/4 in Merit list of the Professional Education Examinations – I/II held in May/November are selected for award of Merit scholarship. Merit–cum-Need Scholarship is awarded to the students whose name appear in the List of Rank Holders of Professional Education Examinations I/II held in May/November every year depending on their merit and parents’ annual income should not be more than Rs. 1,50,000/-. In case of awarding various Endowment Scholarships and Need-Based Scholarships their performance at the PE-I/SSC/Graduation Examinations is taken into consideration and weightage is given to those students whose parents’ income is less and who have performed well in their qualifying examinations. Students with physical handicaps or those who do not have any earning member in their family are given preference. Usually, depending upon the number of applications received, students who have secured not less than 55-60% marks in the qualifying examinations are selected. However, award of this scholarship is also considered favourably if a student has secured 65% or more marks but his parents’ annual income is not more than Rs. 1,00,000.
3. Scholarships At a Glance
Scholarships awarded out of the funds of the Institute for different courses as given in Table No. 1 and duration of all the scholarships awarded is indicated in the Table No. 2 :-
TABLE - 1 - Number of Scholarships under various categories
Title of the Course Merit Scholarship Merit-cum-Need based Need Based
PE-I - - 30
PE-II 7 (Rank holder of PE-I) 10 35
Final 7 (Rank holder of PE-II) 10 35
TABLE – 2 Duration of Scholarship (months)
Title of the Course Merit Scholar-ship Merit-cum-need based Need Based Endowment
PE-I - - 12 -
PE-II 18 18 18 18
Final 30 30 30 30
Two scholarships are reserved for physically handicapped students in need-based category. For SC/ST/OBC category students, an additional amount of Rs.25/- p.m. will be paid in each category of scholarships.
4. Amount of the respective Scholarships
The amount of Scholarship is Rs. 500 p.m. in respect of Merit and Merit-cum-Need Based categories and Rs. 300 p.m. in case of Need-Based Scholarship and Rs. 300 to 500 p.m. in case of Endowment Scholarship Schemes*.
5. Parents’ Annual Income Limit for Scholarship

The parents’ annual income limit has been fixed Rs. 1,00,000 p.a. in case of Need-based/Endowment Scholarships and Rs. 1,50,000 p.a. in case of Merit-cum-Need Scholarship.

This scheme is applicable from 1 st October, 2005 and in case of students who had been sanctioned scholarships prior to this date will continue to get the scholarship amount as stated in the letter issued to them at the time of grant of particular scholarship.

6. Procurement of Scholarship Application Form

A perforated scholarship Application form to apply for a scholarship and Forms No. 1 & 2 are included in this guide for use of the students. These can also be obtained from Institute’s Office at New Delhi, and Regional Offices by sending a request along with a self-addressed envelope affixed with a postal stamp of Rs.5. These can also be down loaded from the web site of the Institute.

Click Here to Download the Application Form
7. Submission of Scholarship Application Form
The duly completed scholarship application form should reach to The Director of Studies, The Institute of Chartered Accountants of India, ICAI BHAWAN, C -1, Sector -1, NOIDA-201 301, before the last date as announced in the Students Newsletter “ Chartered Accountant Student”.
 

* Merit scholarship holders of PE (Course-II) will receive Form No.2 Advance Receipt. They have to submit Advance Receipt along with a proof of a admission to PE (Course-II).

Merit Scholarship holders of PE (Course-II) will receive Form Nos. 1 & 2 which they have to submit.

Students have to apply for scholarship in Form No.3 other than merits scholarships within the prescribed last date .

 
     
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