Magma launches “M SCHOLAR” Offers 50 Scholarships to Under-Graduate students

~Invites applications from meritorious students from low income families~

India: Magma Fincorp Ltd. – a leading NBFC, as part of their CSR initiative, today announced “M Scholar” – scholarship for under-graduate students from low income families. Under the scheme, Magma will offer 50 meritorious students from families with less than Rs 10,000 monthly household income, scholarships to continue their studies. The Scholarship is open to Indian students and is for a duration of three (3) years, renewable every year.

Announcing the Scholarship, Mr Kaushik Sinha, Head of CSR, Magma Fincorp Ltd said, “Every year many meritorious students hailing from poor families are forced to discontinue their higher education due to lack of funds. Keeping alive our motto of ‘investing in the smallest dreams’, Magma Fincorp Ltd., started the scholarship last year and offered 50 students opportunity to continue their studies. Students were selected on the basis of their academic performance in Class Xll board exam and socio-economic background of their families. From our first batch, 15 students are studying Engineering and 3 Medical”, added Mr Sinha.

Application Procedure:

Applications are invited from eligible students from across the country. The three year scholarship is renewable every year. Magma believes that the scholarship will meet a part of the student’s education and related expenses while pursuing higher studies.

Scholarship Details:

• 50 (Fifty) eligible students will be offered the scholarship for three years beginning August 2016
• Student must be citizen of India
• Maximum age of applicant as on 15 August 2016 – 20 Years
• Scholarship will be granted to students for 3 year degree courses in general stream or professional/ specialized courses in science, engineering, commerce, medical, business & finance.
• 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

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

The last date of application for the scholarship program is 30th June 2016.