Do you want to get a scholarship from ICAI?
If you are studying CA IPCC (CA Intermediate) or CA Final, then you can get a scholarship from ICAI. But you should be from poor family or you should be a merit student to get the scholarship from ICAI.
ICAI awards various Scholarships to students, namely, Merit, Merit-cum-Need based and Need-based and Weaker Sections twice a year i.e. in the month of April and October.
The announcements are released in March & September issues of the Student’s Journal-“The Chartered Accountant Student” calling applications for awarding the scholarships and also hosted on the website of the Institute.
The students are required to apply in prescribed Scholarship Application Form. The details of scholarships and the criteria applied for selection of applicants are as under.
ICAI Scholarship Scheme
Merti and Merit Cum Need Based
|Categories||For Final Students||Period of Scholarships (months)||Amount (p.m.)|
|Merit Scholarship||The students whose names appear at Sl. No. 1 to 10 and in case the rank at Sl. No. 10 continues to Sl. No.11 or to Sl. No. 12 or so on, then all such rank holders of Intermediate (IPC)/ Intermediate Examinations.||30 or remaining period of articleship whichever is less||Rs.2000/-|
|Merit Cum Need-Based||All Students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Intermediate (IPC)/ Intermediate Examinations|
No. of Scholarships – 30
|30 or remaining period of articleship whichever is less||Rs.1500/-|
|For Intermediate (IPC)/|
|For Final Students|
|Need-Based and Weaker Sections||550|
(250 for Inter.
300 for Final)
|18||Rs.1250/-||30 or remaining|
|As per eligibility|
|The children undergoing Intermediate (IPC)/ Intermediate or Final Course of the deceased members of ICAI where financial assistance is provided to spouses of the deceased|
members of the Chartered Accountants Benevolent Fund (CABF) shall also be eligible for the scholarship.
(i) Merit Scholarship
The students whose names appear at Sl.No.1 to 10 (in case the rank at Sl. No. 10 continues to Sl. No. 11 or to Sl. No. 12 or so on, all such rank holders) of the Merit lists of Intermediate (IPC)/ Intermediate Examination held in May/November every year are awarded Merit Scholarship of Rs. 2000/- per month.
Rank holders of Intermediate (IPC)/ Intermediate registered for Final Course will get Scholarship for a maximum period of 30 months/remaining period of their articleship whichever, is less. Hence they are not required to apply.
(ii) Merit-cum-Need based Scholarship
All students (other than covered under Merit Scholarship) whose names appear in the Merit list of Rank holders of the Intermediate (IPC)/ Intermediate Examination and their parent’s total income is not more than Rs.1,50,000/- * per annum are eligible to apply for the award of Merit-cum-Need scholarship.
The students who would be selected for award of the scholarship under this category will be granted @ Rs. 1500 p.m for a maximum period of 30 months/remaining period of articleship whichever is less on being registered for Final Course. Total 30 scholarships are awarded every year under this category.
(iii) Need-based and weaker sections Scholarship
Students of Intermediate (IPC)/ Intermediate and Final Course 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)/ Intermediate 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)/ Intermediate) and 300 for Final Course Students) are awarded every year under this category. Two scholarships are reserved every year for physically handicapped students. For SC/ST/OBC category students, an additional amount of Rs.100/- p.m. will be paid on submission of a certificate/ documentary proof duly attested by a member of the Institute.
Income Certificate is to be submitted in Form No. 4 for being eligible 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).
While selecting candidates the performance of their CPT/Foundation/ Graduation / Intermediate (IPC)/ Intermediate, 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.
Over and above the number of scholarships under this category, the children undergoing Intermediate (IPC)/ Intermediate 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.
The payment of scholarship is liable to be discontinued in each category in case the recipient does not pass the Intermediate (IPC)/ Intermediate/Final Examination in the first two eligible chances.
Scholarships under Endowment Schemes
In addition to the above, scholarships are also awarded under different Endowment Schemes created by individual donors/ Joint Corpus formed by donors. The criteria applied are the same as in case of Need-based scholarship.
Procurement of Scholarship Application Form
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 website of the Institute(www.icai.org ) at the link
How to Submit ICAI Scholarship Application Form
The duly completed Scholarship Application Form should reach to
The Director, Board of Studies,
The Institute of Chartered Accountants of India,
ICAl BHAWAN, A-29,
Sector – 62,
NOIDA- 201 309.
before the last date, i.e 31st March for April term and 30th September for October term as per the announcement hosted at the ICAI Website and published in the Student’s Journal “The Chartered Accountant Student” in March and September respectively.
Still, do you have any doubts regarding ICAI scholarship?
Then, let me know in the comments section.
Also, share this article with your friends who are studying CA CPT(Foundation), IPCC (Intermediate) and CA Final.