India has more than 50 per cent of its population under the age of 25. This young populace of the country has no dearth of talent, energy and enthusiasm to work hard. However, often they are unable to do so because of incomplete education or lack of formal training caused due to lack of financial resources.
In order to support them, the government of India has various scholarship schemes, especially to promote education among the weaker section of the society. Recently, the government is contemplating merging all of these schemes under one national scholarship scheme called PM Young Achievers Scholarship Award Scheme for Vibrant India (PM-YASASVI) for better and efficient implementation of the scholarship program.
The government’s move clearly highlights the importance of education for the economic and social development of the country. Therefore, the corporates in India have also stepped up to support the worthy cause of education by hosting various scholarship programs under their Corporate Social Responsibility (CSR) initiatives. Let us explore some of the CSR initiatives that provide scholarships in India.
HP Udaan Scholarship
HP Udaan Scholarship program is for students who have completed their 10th and 12. The program supports over 1,300 students from low-income families. The program also promotes girl child education as 50% of the total seats have been reserved for girls. The scholarship program would cater to three separate categories of students: those requiring assistance to finish their schooling post standard 10, those looking to pursue an ITI or diploma, and those who are seeking higher education after class 12. The scholarship of up to INR 30,000 per year to the selected students in the program.
HDFC Educational Crisis Scholarship
HDFC Educational Crisis Scholarship is aimed at helping children who do not have adequate social and economical backing to complete their learning. They are designed to help children complete their education by providing them with financial grants that can help them in situations of crisis. The scholarship program has proven to be an important tool for students who drop out of school and college due to a lack of financial stability or due to lapse in academic performance.
L’Oreal India For Young Women in Science Scholarship
L’Oreal India For Young Women in Science Scholarship was instituted in 2003 to encourage more women to pursue a career in science. The scholarship is the CSR initiative of the cosmetic brand that has empowered over 385 young women from economically disadvantaged backgrounds, to pursue their higher education in any scientific field from a recognised college or university in India. A scholarship of INR 250,000 is awarded to each of the promising young women and covers their college fees. By providing them with financial assistance to pursue scientific education, this scholarship reinforces the vocation of women in scientific disciplines. The scholarship encourages women, who would probably otherwise discontinue their education, to pursue the study in their chosen field.
L’Oréal India’s ‘For Young Women in Science’ programme is an extension of the international L’Oréal UNESCO FOR WOMEN IN SCIENCE partnership.
Nikon Scholarship Program 2020
Nikon Scholarship Program 2020 is an initiative of Nikon India Private Limited to financially support students from underprivileged sections of the society to pursue photography-related courses. The scholarship is meant to help students who have passed Class 12 and are enrolled in a photography-related course with a duration of 3 months or more. Nikon India is offering this scholarship in line with its Corporate Social Responsibility (CSR) initiatives aimed at empowering individuals and strengthening the society.
IDFC First Bank Flagship MBA Scholarship
IDFC FIRST Bank MBA scholarship is a need-based scholarship where INR 2,00,000 is granted for two years of full-time MBA education to students that have secured admissions in B-schools on their own merit and have a family income of fewer than 6 lakhs per annum. This scholarship aims to make post-graduate education in Business studies accessible to those who are meritorious but are unable to afford it due to financial constraints.
O.P. Jindal Engineering and Management Scholarships (OPJEMS)
O.P. Jindal Group instituted the O.P. Jindal Engineering and Management Scholarships (OPJEMS) in 2007. These scholarships are aimed at promoting academic and leadership excellence and are awarded to meritorious students who emulate the vision and values of Shri O. P. Jindal and have the potential to become leaders in entrepreneurial excellence and innovation. Every year, 100 students from 40 premier engineering and management institutions are awarded INR 1,50,000 for each student of the management program and INR 80,000 for each of the engineering students.