NEED BASED FINANCIAL ASSISTANCE 2019-20 (NBFA) To: PGP, PGP Mumbai, PGPHRM and IPM Participants Indian Institute of Management is pleased to announce the modified Need Based Financial Assistance (NBFA) offered by the institute to all eligible participants admitted to the Post-Graduate Programme in Management (PGP), PGP Mumbai (PGPM), PGP HRM (PGPH) and Integrated Programme in Management (IPM). The objective of the Need Based Financial Assistance (NBFA) at IIM Indore is to ensure that no participant is deprived of education at the institute for financial reasons. The NBFA Committee undertakes a two-step process for deciding the number of awardees and the quantum of aid, The financial assistance offered will be capped at an amount equal to or close to the interest that accrues to a participant's loan account if he/she avails of an educational loan (for the period he/she is in IIM Indore). The actual NBFA awarded would be a percentage of the above maximum amount depending on the family income and the assets held by the family. Disciplinary records of the participants will also be taken into consideration while awarding of NBFA. In the first stage, the participant's financial need will be assessed by evaluating the application submitted by the participants. In the second stage, based on the assessment at stage I, some of the participants are called for a personal interaction with the NBFA Committee. During this interaction, NBFA Committee will evaluate the financial need of the participant, as well as check the correctness of the details provided by the participant in the application. Based on the evaluation at stage | and Il, applicants are provided financial aid NBFA scheme provides financial assistance based on the family income and assets held by the family as detailed below. S/N Family Any other condition which will | Scholarship Other benefits annual be considered before sanction | fee interest Income and render the participant waiver | | from all ineligible | sources per annum Rs. le 1 Below Ownership of any building not | 100% of Rs. 3000/- per month for 1,50,001 more than 600 sq. feet ina “A” | Maximum 10 months in a year class city or 900 square feet in | amount of | towards mess fees. If the | other cities in India (house or | NBFA participant opts out of commercial building), decided for mess he or she is not Movable assets like the year. eligible for this benefit. FDs/shares (not more than 5 This is a reimbursement lakhs), shares and other subject to the above securities. maximum limit. ___| Owner ship of a car. a 2 Below Ownership of any building not | 75% of Rs. 3000/- per month for 300,000/- more than 600 sq. feet ina “A” | Maximum 10 months in a year class city or 900 square feet in | amount of towards mess fees. If the other cities in India (house or | NBFA participant opts out of commercial building), decided for its‘* Wherever sq ft is mentioned it is with respect to built up area. Movable assets like "| the year mess he or she is not FDs/shares limit is Rs. 10 based on the | eligible for this benefit lakhs, interest This is a reimbursement amount subject to the above | maximum limit. 3 | Below ‘Ownership of any building not | 50% of Rs. 3000/- per month for 450001 more than 600 sq. feet ina“A’ | Maximum | 10 months ina year | class city or 900 square feet in | amount of | towards mess fees. If the | other cities in India (house or | NBFA participant opts out of commercial building), decided for | mess he or she is not Movable assets like the year eligible for this benefit. FDs/shares limit is Rs. 10 based on the | This is a reimbursement Heel lakhs, interest subject to the above | amount maximum limit. 4 | Below ‘Ownership of any building not | 25% of 600001 more than 600 sq. feet ina "A” | Maximum class city or 900 square feet in | amount of other cities in India (house or | NBFA ‘commercial building), decided for Movable assets like the year FDs/shares limit is Rs. 10 based on the lakhs. interest amount 5 | Below ‘Owner ship of a building of not | 15% of 750001 —_| more than 900 sq. feet. Maximum Movable assets like amount of | FDs/shares limit is Rs. 10 NBFA | lakhs. decided for | the year | based on the interest amount 6 | Below ‘Owner ship of a building of not | 10% of the 900001 more than 900 sq feet. amount of Movable assets like NBFA FDs/shares limit is Rs. 10 decided for lakhs. the year based on the interest amount ei The participants admitted under the EWS quota would be given an assistance under the NBFA scheme. However, they should apply for the same and would be subject to any verification carried out by the institute. The amount would depend on the category (listed above) to which they belong. This amount would be paid to the bank from which they have availed the loan. The amount would be distributed equally at the end of Term-1 in the first year and at the end of Term-5 in the second year for PGP and first term of the respective year for IPM. The requirement is that they should have been admitted under the EWS quota, should apply for the financial assistance and submit relevant documents. Anyone having applied through the EWS quota but have secured the seat through general or any other quota can also apply for NBFA Any participant who has applied through SC, ST, OBC or physically handicapped quota and falls within the above eligibility criteria can also apply for the NBFA.* Participants should have availed a loan from any scheduled bank and withdrawn from the loan account to pay for the fees during the term of their study at the Institute are eligible for NBFA. The application form for NBFA consist of five parts, viz, Part|: | Personal information of the applicant, details of income, family, funds and é signed by the applicant Parti: | Income Declaration by the Parent/Guardian of the applicant Part lll; _| NBFA Datasheet in Excel (soft copy to be emailed to | | papoffice@iimidr.ac.in) with supporting documents to be submitted to the programme office Part IV; | Instruction for filing the application form. Duly signed by the applicant | and his parent/guardian Part V;_| FAQs for NBFA Instructions for filling the application form, instructions for filling the form, frequently asked questions and data sheet are available in our website and in offices of PGP, IPM and PGP Mumbai Offices. Those who are eligible may apply with the completed application Part |, II, Ill and IV. Instructions for fling the application along with softcopy of NBFA datasheet (soft copy to be emailed to pgpoffice@iimidr.ac.in) VI by 16 August 2019 to: f= Participants of ___ Submit at a) | PGP 7, 2, IPM 4%, 5” and PGPHR 1" | PGP Office ear participants b) [IPM 4, 2 and 3 year participants IPM Office c) | PGP Mumbai 1® and 2"? year participants _ | PGP Mumbai Office Please read the application form and instructions carefully. Some part of the application form will require the parent/ guardian's signature. Incomplete application forms will not be considered. Applications received after the deadline will not be considered. Application received with complete information and all required documents will be processed in the first lot. The Institute reserves the right to verify details mentioned in the NBFA application forms. The NBFA Committee reserve the right to award or reject the request for NBFA, In —— , please contact PGP/IPM/PGP Mumbai Office. Dean (Planning‘and Development) Encl: 1. NBFA application form 2. Instructions for filing the application form 3. FAQs 4. Data sheet in Excel form