INDIAN INSTITUTE OF MANAGEMENT INDORE

FAQ FOR THE NEED BASED FINANCIAL ASSISTANCE 2018-19

SN Question (s) Answer

1 Is IIM Indore providing any Yes, IIM Indore is providing “Need Based Financial Assistance
financial assistance to the (NBFA)”.
financially backward students
of PGP / PGP Mumbai/PGP
HR/ IPM ?
2. Is there any parameter which If your gross family income is below Rs.9,00,000/- in the previous
can determine whether I am financial year, then you are eligible to apply for NBFA. For Example,
eligible to apply or not? today is 20 June 2018, your gross family income for the financial year
2017-18 (01st April 2017 to 31st March 2018) will be considered.
3 Whether I have to avail bank You should have availed bank education loan to pursue PGP, PGP
loan for getting NBFA HR, PGP Mumbai & IPM programmes.
4. What is the definition of The definition of ‘the family’ includes
Family? 1. the applicant and his/her spouse, if any;
2. both the surviving parents of the applicant;
3. the unmarried brothers and sisters of the applicant;
4. the married brothers of the applicant and their wives,
5. separated sister(s): if formally separated or divorced (subjected to
approval by competent authority of IIM Indore), and
6. any other who directly depends on the parents of the applicant for
their livelihood.
5. Where the gross family Income No, there will be slab wise categories. The present slabs for PGP,
is less than Rs.9,00,000/-, PGP HR, PGP Mumbai and IPM are as under :
students will get the financial Slab Family Income NBFA amount
assistance equally? I Income upto Rs.1,50,000 Reimbursement of 100%
tuition fee
II Income between Reimbursement of 75%
Rs.1,50,000 and tuition fee
Rs.3,00,000
III Income between Reimbursement of 50%
Rs.3,00,000 and tuition fee
Rs.4,50,000
IV Income between Reimbursement of 25%
Rs.4,50,000 and tuition fee
Rs.6,00,000
V Income between Reimbursement of 15%
Rs.6,00,000 and tuition fee
Rs.7,50,000
VI Income betweenRs.7,50,000 Reimbursement of 10%
and Rs.9,00,000 tuition fee
Further,
80% subsidy on mess charges on actuals, i.e, upto to maximum of
Rs.3,600/- per month (i.e, 80% of monthly mess charge of Rs.4,500/-)
to PGP, PGP Mumbai, PGP-HR and IPM participants with family
annual income upto Rs.4,50,000/-, i.e, Slabs I, II & III.

Financial support to the participants of PGP 2nd, IPM 5th and PGP
Mumbai 2nd year for meeting the expenses of Student Exchange
programme, who are coming under the slabs I, II & III, to the extent of
(upto) Rs. @ Rs.2,00,000, Rs.1,50,000/- and Rs. 1,00,000/-,
respectively.
6. How I get mess subsidy? 80% mess charges upto Rs.3,600/- per month will be paid directly to
the caterer as certified by the Hostel/Institute authorities.
7. Who will be getting financial Student Exchange programme deployment will be decided by the
 support for Student Exchange International Relations Office. The participants of PGP 2nd, PGP
Programme ? Mumbai 2nd and IPM 5th year proceeding on Student Exchange
Programme will only be given the financial support.
8. From where will I get the NBFA Application form can be downloaded from the Institute’s website. It
application forms? can also be collected in person from PGP/PGP Mumbai/IPM Office.
9. Is there any stipulated time The Institute will notify the deadline by which you have to apply for the
period for applying, or I can NBFA. Applications received after the stipulated deadline will be
apply anytime as per my straightway rejected.
convenience.
10. After getting the NBFA Form, You have to go through the instruction sheet before filling the
what should I do? information in the NBFA application form. The instruction sheet is at
the end of the application form. The application duly filled up with
supporting documents has to be submitted within due date.
11. What are the documents A) For Salaried class(Serving) :-
required to be submitted with (i) Form No 16 for the previous financial year (if applicable).
the application for all the (ii) Provident Fund statement (if applicable).
earning members of the (iii) Terminal benefits details supported by bank statement, if retired in
family? the previous financial year (if applicable).
(iv) IT returns for the previous financial year (if applicable).

B) For salaried class (retired);-

(i) Pension payment details duly certified by the pension paying
bank supported with bank statement.
(ii) Copy of pension payment order.
(iii) IT returns for the previous financial year (if applicable).

C) For Businessman/Professional :
(i) Audited balance sheet for the last three financial years supported
with bank statements (if applicable).
(ii) IT returns complete set for the last two financial years (if
applicable).

D) For Farmers :
(i) Income certificate issued by concerned revenue authority at
supported with Bank statement
(ii) IT returns for the previous financial year.

Compulsory for all:-

(i) Loan sanction letter from Bank and loan disbursement details.
(ii) Income declaration in the format provided with the NBFA
application form.
(ii) Bank statement of all the bank accounts maintained during the
previous financial year for all the family members.
(iv) Investment details in shares, debentures, fixed deposit, mutual
funds, PPF, Life Insurance etc.
(v) Interest income details including accrued interest.
(vi) Survival benefits receiving details from the Insurance company.
12. If a particular document, which No, one has to submit the complete set at a time before the stipulated
is required as per para 11 deadline, those NBFA applications not supported by the required
above is not available with me, documents as mentioned at para 11 above will be rejected.
can I submit the NBFA
application form now and
submit the document letter on.
13. My parents are working in a Under special circumstance, with the approval of competent authority
private firm, they don’t issue you can submit salary certificate/pay slip for all the months of that
form No 16, and then what will financial year.
I do.
14. If I got NBFA from IIM Indore No, you have to surrender one of it.
 and another scholarship/
financial assistance during a
financial year from other
organization, can I keep both of
it?
15. In case of any query, to whom I You should approach to the PGP/PGP Mumba/IPM office or any other
should approach. person authorized by the competent authority.

16. At the time of scrutiny of the Detection (or reported by any source) of false information provided by
NBFA application, if any the applicant, at any stage of the program or thereafter, will lead to
information is found to be false termination of the financial assistance or the recipient will be asked to
then what will happen? refund the entire amount drawn up to that point of time, or any other
measure deemed fit by the Institute. It may also lead to termination
from the program OR withdrawal of degree in case the participant has
completed the program OR any other action as decided by the
competent authority of the Institute.
17. If I don’t mention the name of The NBFA Application will be rejected and the Institute will take any
the earning family member in other measure deemed fit.
the family details, what will
happen?
18. If a particular column of a Every column of the Form is to be filled, if any column is not applicable
NBFA form is not applicable to to you, you are required to mark “Not Applicable”. You cannot fill up
me, should I keep it blank. the column with “---”.
19. Whether I can use any colour Only blue OR black colour ball pen can be used.
pen to fill up the form
20. What is the selection process? NBFA Committee would screen all applications and verify all the
documents attached to the application. If required, additional
information would be sought from the participants and the participants
shall be responsible to provide such information. The Chair, NBFA
may decide to conduct personal interviews of the applicants as a part
of selection process. Based on such assessment, the Committee
would finalise the list of participants for NBFA.
21. Whether the NBFA (if The NBFA amount will only be credited to the educational bank loan
sanctioned) will be given to me account. For which you have to give bank details after the sanction.
in cash or credited in bank
account
22. How to treat withdrawal/ In case a participant withdraws on his/her own or is asked to withdraw
repeating course(s) or first year from the program at any time, he/she shall not be required to refund
of the program the amount already disbursed. However, no further disbursement shall
be made. In cases of repeating course(s) or the first year of the
respective program due to poor academic performance, the student
shall be entitled to only the sanctioned amount in the first instance.
Summary
Percentage of Fee Student Exchange Programme for
% of Mess Subsidy to PGP,
Slab reimbursement to PGP, PGP PGP 2nd, PGP Mumbai 2nd, IPM
PGP Mumbai, PGP HR & IPM
Mumbai, PGP HR & IPM 5th year participants
80% upto to maximum of
I 100% Upto Rs.2.0 lakh
Rs.3,600/- per month on actuals
80% upto to maximum of
II 75% Upto Rs.1.5 lakh
Rs.3,600/- per month on actuals
80% upto to maximum of
III 50% Upto Rs.1.0 lakh
Rs.3,600/- per month on actuals
IV 25% - -
V 15% - -
VI 10% - -