IIM Indore offers the Need-Based Financial Assistance (NBFA) scheme to ensure that no eligible student misses out on quality education due to financial limitations. The scheme supports students from economically weaker backgrounds by providing partial financial assistance based on family income, assets, and overall financial need NBFA is offered to students enrolled in PGP, PGP-HRM and IPM programs.
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IIM Indore Scholarships 2026
The NBFA Scheme at IIM Indore is offered to students with an annual family income below INR 12,00,000. IIM Indore conducts a two-step evaluation process, application assessment and personal interaction, to determine the eligible students. Students from various categories, including General, EWS, SC, ST, OBC and PwD, can apply if they meet the family income requirement.
| Criteria | NBFA Details |
| Eligible programs | PGP, PGP-HRM (PGPH), IPM |
| Maximum Annual Family Income | INR 12,00,000 |
| Category | All categories (General, EWS, SC, ST, OBC, PwD) |
| Seat Background | Students with EWS/OBC/SC/ST/PwD certificates can also apply if income criteria are met |
Note: Students who applied through the EWS quota but secured admission under General/other categories are also eligible.
IIM Indore NBFA Evaluation Process
The NBFA Committee follows a two-stage process to determine the number of awardees and the amount of financial assistance granted each year. The final NBFA awarded to a student is a percentage of the maximum assistance decided annually. Factors considered include: family income, family assets, genuineness of documents and disciplinary record at IIM Indore.
| Stage | Description |
| Stage 1: Application Review | Committee evaluates the applicant’s financial condition, income documents, and assets. |
| Stage 2: Personal Interaction | Shortlisted applicants meet the NBFA Committee for verification and need assessment. |
IIM Indore Scholarship Application Process 2026
Eligible students must fill out the NBFA form available at the PGP/IPM office at IIM Indore. The application must be complete and submitted before the deadline.
| Requirement | Details |
| Source of Form | Must be taken from PGP/IPM Office only |
| Parent/Guardian Section | Must be filled and signed by parent/guardian |
| Submission | Before due date; late applications rejected |
| Verification | Institute may verify all details submitted |
| Authority | NBFA Committee’s decision is final; Director is the appellate authority |
IIM Indore Scholarship FAQs
What is the maximum family income allowed to apply for the IIM Indore NBFA Scholarship 2026?
Students at IIM Indore can apply for the NBFA Scholarship 2026 only if their annual family income is below INR 12,00,000.
Which programs at IIM Indore are covered under the NBFA Scheme?
The IIM Indore NBFA Scheme is available for students enrolled in PGP, PGP-HRM and IPM programs.
Can EWS, OBC, SC, ST, and PwD category students apply for the IIM Indore NBFA Scholarship?
Yes, students from all categories, including General, EWS, OBC, SC, ST, and PwD, can apply for the IIM Indore NBFA, provided their family income is under INR 12 lakh.
Does IIM Indore allow General-category students who applied via the EWS quota to apply for NBFA?
Yes. If a student applied through EWS quota but secured admission under General or another category, IIM Indore still considers them eligible for NBFA if they meet the income criteria.
What is the evaluation process for the NBFA Scholarship at IIM Indore?
IIM Indore follows a two-step evaluation: Application Review (income documents + asset check) and personal Interaction for shortlisted students to verify financial need and document genuineness.
How is the final financial assistance amount decided under IIM Indore NBFA?
The final NBFA awarded at IIM Indore is a percentage of the maximum yearly assistance, determined based on family income, assets, and disciplinary record. The percentage varies each year.
Where can students get the official NBFA application form at IIM Indore?
Students must collect the NBFA application form directly from the PGP/IPM Office at IIM Indore. Forms downloaded or taken from other sources are not accepted.
Will IIM Indore reject NBFA applications submitted after the deadline?
Yes. IIM Indore strictly rejects NBFA applications that are incomplete or submitted after the due date, as per the scholarship rules.
Does IIM Indore verify the documents submitted for the NBFA Scholarship?
Yes. IIM Indore reserves the right to verify all income and asset-related documents submitted by students during the NBFA application process.
Who has the final authority over NBFA decisions at IIM Indore?
The NBFA Committee at IIM Indore makes the final decision regarding the scholarship. If a student wants to appeal, the Director of IIM Indore serves as the appellate authority.
