The Board of Studies of ICAI awards various Scholarships to students twice a year i.e. in the month of April and October. The announcements for the same are released in the Student’s Journal-“The Chartered Accountant Student” in March & September issues as well as it is hosted on the website of the Institute(www.icai.org). The students are required to apply in prescribed Scholarship Application Form. ICAI offers scholarships in three categories for students undergoing Final Course, Intermediate (IPC) course and Common Proficiency (CPT) course namely –
- ICAI Merit-based scholarships – It is awarded to the meritorious students as a token of appreciation. Students whose names are appearing at Sr. No. 1-10 of Merit lists of Intermediate (IPC) of Exam, in case the Rank at Sr. No.10 continues to Sr. No. 11 or 12 or so on, then all such rank holders shall be granted @ Rs. 2000/- p.m. Such students are not required to apply.
- ICAI Merit cum need based scholarships – It is awarded to Students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of Common Proficiency Examination(CPT)/ the Intermediate (IPC) Examinations and their parents total income should not be more than Rs.1,50,000/- per annum are eligible to apply for award of Merit-cum-Need scholarship.The students who would be selected for award of the scholarship will be granted @ Rs. 1500 p.m for 18 months to rank holders of CPT who have registered for Intermediate (IPC) and for a maximum period of 30 months/remaining period of articleship to rank holders of Intermediate (IPC) who have registered for Final Course. Total 30 scholarships are awarded every year under this category.
- ICAI Need-based & weaker sections scholarships – It is awarded to the students of Intermediate (IPC) and Final Course, if they are eligible to apply for an award of Need- based Scholarships provided their parents’ annual income is not more than Rs.1,00,000/- * per annum. The students who would be selected for award of the scholarship will be granted @ Rs. 1250/- p.m for 18 months to Intermediate (IPC) students and for a maximum period of 30 months/remaining period of articleship whichever is less to Final students. Total 550 scholarships (250 for Intermediate (IPC) and 300 for Final Course Students) are awarded every year under this category. Two scholarships are reserved every year for physically handicapped students.
Over and above the number of scholarships under this category, the children undergoing Intermediate (IPC) or Final Course of the deceased members of ICAI where financial assistance is provided to spouses of the deceased members from the Chartered Accountants Benevolent Fund (CABF) shall also be eligible for the scholarship.
- Applicants shall be the registered students of Intermediate (IPC) or Final Course.
- In the case of Intermediate (IPC) Students, Scholarship shall be paid for a maximum period of 18 months.
- In the case of Final students, Scholarship shall be paid for a maximum period of 30 months or balance period of their articleship, whichever is less.
- While selecting candidates the performance of their CPT/ Graduation Examinations/ Intermediate (IPC) as the case may be as well as parents’ income are taken into consideration. Physically handicapped students or those who do not have any earning member in their family are given preference.
- An additional amount of Rs. 100/- p.m. shall be paid to SC/ ST/ OBC students, under Need-based and Weaker Section Category on submission of certificate/ documentary proof duly attested by a gazetted officer or a member of the Institute.
- One scholarship under the Need-Based and Weaker Section Category is reserved for a Physically Challenged student.
- Income Certificate (Form No. 4) to be submitted on the letterhead of the Principal by the Student undergoing Articleship (Practical Training) (Part I) / letterhead of any member of ICAI by the Student not undergoing Articleship (Part-II).
- The Application Forms to apply for Scholarship in the prescribed formats (Form No. 3 & 4) and Form No. 2 to claim further installments can be downloaded from the ICAI website (www.icai.org).
- Duly completed and signed Application Forms in the prescribed formats as mentioned above should be sent before the last date i.e 31st march for April term and 30th September for October term on the below-mentioned address.
The Director, Board of Studies,
The Institute of Chartered Accountants of India,
ICAI Bhawan, A-29,
- In case of any clarification, please contact the Board of Studies, Telephone Nos. 0120-3045914/931; email: email@example.com; firstname.lastname@example.org
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