To assist students financially, IIT Bombay offers several scholarship schemes which include Institute's Scholarships, Govt. Scholarships, Private Scholarships, and Fellowships for its Ph.D. students. For every scholarship, there's certain eligibility required to get the scholarship award. Some of the most popular scholarship schemes offered by IIT Bombay and other Private Scholarships are as follows.

Merit Cum Means Scholarship (Institute Scholarship)

• The Merit Cum Means Scholarship is awarded to the new entrants on the basis of their JEE AIR rank and the candidates whose annual family income is less than INR 4.5 lakhs.
• A free tuition fee of INR 25,000 per semester is awarded in the Merit Cum Means scholarship along with a benefit of INR 1000 per month to a maximum of 25% undergraduate students.
• In addition to this, almost 10% of students are offered the benefit of free tuition.
• All the SC/ST Students are exempted from payment of tuition fees and are allowed to avail the facility of free messing along with a pocket allowance of INR 250 per month.

IIT Bombay Heritage Fund Scholarship:

• The IIT Bombay Heritage Fund has been created by the Alumni of IIT Bombay in the USA, which collects donations from the alumni for the institution of scholarships at IIT Bombay.
• The eligibility criteria for the IIT Bombay Heritage Fund Scholarship are as same as per the merit criterion of the MCM Scholarship. 
• The students wishing to apply for the IIT Bombay Heritage Fund Scholarship should have a parental annual income from all the sources that do not exceed INR 5 lakhs. 

Dr. Burjor Godrej Scholarship:

• IIT Bombay offers two Dr. Burjor Godrej Merit Scholarship of INR 5000 per month, six Dr. Burjor Godrej Merit Cum Means Scholarship of INR 2000 per month, and ten Prof. MV Pandya Merit Cum Means Scholarship of INR 1000 per month.
• The above-mentioned scholarships are available to the students admitted to the M.Sc. Chemistry Programmes at IIT Bombay.
• The criterion for the Dr. Burjor Godrej Scholarship is the highest SPI scored by the students of the M.Sc programs.
• Also, the fellowship duration is five months in each semester, hence, the student securing the highest SPI will get a cumulated scholarship amount of INR 25,000 for the duration of the preceding semester.
• The MV Pandya Fellowship Merit cum Means Scholarship carries an award of INR 10,000 per annum for the students whose annual parental income does not exceed INR 1.5 lakhs.

Aditya Birla Scholarship:

• The Aditya Birla Scholarship covers the entire course and scholars are rewarded with INR 65,000 per annum. However, the performance of the students is closely monitored for the renewal of awards every year.
• The performance assessment criteria for the Aditya Birla Scholars are based on qualitative and quantitative parameters.
• In order to be eligible for renewal of the Aditya Birla Scholarship, a candidate should be in the top 25% of his/her batch and must have a rating of at least 7 on the 9 point scale during the course work.
• Apart from these, candidates are required to actively participate in the activities conducted by the institute and have to write an essay of 350-400 words on "Being an Aditya Birla Scholar: Experience sharing".

Aditya Birla Scholarship Selection Process:

• The eligible students are evaluated through the information they provide in their application form.
• The overall achievements, academic and co-curricular experiences are also assessed and weighted during the application process.
• The initial shortlisting of the candidates is done on the basis of the essays and application and then the shortlisted candidates are called for an interview round. However, the travel and accommodation expenses are provided to the invited students.
• Candidates who successfully clear the interview are then offered the scholarship awards.

OPJEMS Scholarship:

• The OPJEMS Scholarship at IIT Bombay is a yearly scholarship of INR 65,000.
• The Scholarship is awarded to the students under two main categories at IIT Bombay. The categories of the students are as follows:
  • 2 toppers from each batch from the following streams for all 4 years: Civil Engineering, Electrical Engineering, Mechanical Engineering, Metallurgical Engineering
  • Top 12 students from each batch from any specialization or stream for all 4 years.
• The Scholarship is awarded to a total of 112 students from 33 institutes and is granted on the basis of the scores of a student in the online test followed by a personal interview. 
• However, equal weightage will be given to the online test and interview for selection.

INSPIRE Scholarship:

• The INSPIRE Scholarship is quite popular among the students of bachelor's and master's programs at IITs.
• The scheme of INSPIRE Scholarship offers 10,000 scholarships every year that worth a total of INR 80,000 to each student undertaking bachelor's or master's level education in Natural & Basic Sciences at IIT Bombay. 
• A candidate should satisfy the minimum requirements to avail the facility of INSPIRE Scholarship such as 
  • A candidate should be in the top 1% in the 12th standard and opted for Natural & Basic Sciences.
  • Students who have secured in the Joint Entrance Examination of IIT top 10,000 ranks, AIEEE top 10,000 ranks plus those clearing AIPMT to top 10,000 ranks.

Apart from the above-mentioned Scholarships, there are various scholarships that include Scholarships offered by the Government such as Central Sector Scholarship, NTS Scholarship, NBHM Scholarship, DBT Scholarship, etc.

IIT Bombay Scholarship FAQs