ICAI Scholarships for CA Students from 1st April 2020: Application, Eligibility, Terms & Conditions

Board of Studies, ICAI has invited applications from CA Students, latest by 31st May 2020, for award of the Scholarships to selected candidates under various categories, payable from 1 April 2020 onwards. The deadline for submission of Scholarship application has been extended by ICAI, from 31st March 2020 to 31st May 2020 due to COVID-19 outbreak.

ICAI Announcements dt. 17 Feb. 2020dt. 26 Mar. 2020

Eligibility Criteria and Categories of Scholarships for CA Students

Sr.
No.
Scholarship
Category
No. of
Scholarships
Amount
(p.m.)
Eligibility Criteria
1.Merit-cum-NeedAs per eligibility criteriaRs.1500/-Rank  holders  (other  than  covered  under  Merit category) of Intermediate (IPC)  November 2019 Exam whose parents/guardians total annual income does not exceed Rs.2,50,000/-
2.Need Based and Weaker Sections300Rs.1250/-Students of Intermediate (IPC)/ Intermediate Course whose parents/ guardians total annual income does not exceed Rs. 2,00,000/-
200Rs.1250/-Students of Final Course (Both Groups of
Intermediate passed only)
whose parents/ guardians  total annual income does not exceed Rs. 2,00,000/-
As per eligibility criteriaRs.1250/-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 scholarship.
3.Sri Dhanraj Kanhaiyalal Dudheria Scholarships4Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final from Karnataka State under Need Based & Weaker Sections criteria
4.R.K. Khanna Memorial Scholarships2Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final under Need Based & Weaker Sections criteria
5.J.S. Lodha Memorial Scholarships2Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final under Need Based & Weaker Sections criteria
6.J.M. Sethia Charitable Trust Scholarships2Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final under Need Based & Weaker Sections criteria
7.BCCO Foundation Scholarships2Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final under Need Based & Weaker Sections criteria
8.R. P. Dalal Memorial Scholarship2Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final under Need Based & Weaker Sections criteria
9.Out of Joint Corpus formed by Donors5Rs.1250/-Students of Intermediate (IPC)/ Intermediate/ Final under Need Based & Weaker Sections criteria

ICAI also awards Scholarships to the Meritorious Students as a token of appreciation. Students whose names are appearing at rank 1-10 of Merit lists of Intermediate (IPC) November 2019 Exam, shall be granted scholarship @ Rs. 2000/- p.m. Such students are not required to apply.

The detailed guidelines along with the requisite application forms (Form no. 3 & 4) are available on the Institute’s Website www.icai.org 

ICAI’s Terms for award of Scholarships to CA Students:

i) Applicants shall be the registered students of Intermediate (IPC)/ Intermediate or Final Course.

ii) In the case of Intermediate (IPC)/ Intermediate Students, Scholarship shall be paid for a maximum period of 18 months.

iii) 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.

iv) 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.

v) One scholarship under the Need-Based and Weaker Section Category is reserved for a Physically Challenged student.

vi) Income Certificate (Form No. 4) is to be submitted on the letter head of the Principal under whom the Student is undergoing Articleship (Practical Training) (Part I) / letter head of any member of ICAI in case the Student is not undergoing Articleship (Part-II). The applications without Form No. 4 will not be processed.

Duly completed and signed Application Forms in the prescribed formats as mentioned above should be sent to ‘The Director, Board of Studies, The Institute of Chartered Accountants of India, ICAI Bhawan, A-29, Sector-62, NOIDA-201309′ latest by 31st March 2020.

In case of any clarification, please contact Board of Studies, Telephone Nos. 0120-3045914/ 931; email: ajay.kumar@icai.in

ICAI Creates Rs. 100 crores Corpus Fund for Scholarships to CA Students

ICAI has created a Rs. 100 crores Corpus Fund which is earmarked for providing recurring scholarships to CA Students falling in different categories namely,- Merit, Merit-cum-Need based, Need-based and Weaker Sections.

ICAI Press Release dt. 8 May 2020

Rs. 100 CRORES CORPUS EARMARKED FOR SCHOLARSHIP TO CA STUDENTS

…ICAI believes in focussing to strengthen the present of the students so that the future of the students pursuing Chartered Accountancy Course is bright. In this context, a Corpus fund of Rs.100 crore has been created and earmarked by ICAI to provide scholarships for the students who are pursuing Chartered Accountancy Course and increase the beneficiaries gradually.

CA. Atul Kumar President, ICAI said “The corpus fund will be used for granting recurring Scholarships to the students in different categories namely- Merit, Merit-cum-Need based, Need-based and Weaker Sections. This will enable students to have a bright future and pursue their dreams.”

The Institute has been rigorously working and has taken many path breaking initiatives aimed towards Social Empowerment of young professionals by providing professional education opportunity to students hailing from every strata of society, at an economical cost.

President, ICAI further added “ In the recent past, ICAI had taken a major decision to waive off 75% fee for the students registering from the newly formed Union Territories of Jammu & Kashmir, Ladakh and also from 8 North-Eastern States, for all level of CA Course i.e. Foundation, Intermediate and Final. The decision was a step forward towards encouraging the young aspirants who wish to pursue their dream of becoming a Chartered Accountant and serve the nation with their capabilities and knowledge.”

Chartered Accountancy Course offers numerous Professional opportunities in Industry apart from the option to start one’s own practice. Chartered Accountants are getting average starting salary of 8.5 Lakh p.a. despite it being one among the most economical courses globally. ICAI always endeavour’ to make the course accessible to the interested candidates at their doorstep and thus empower the youth through skill development and equip them to be a part of the mainstream/ economy. ICAI, being a Regulator of CA profession in India, always encourages the young aspirants who wish to pursue their dream of becoming a Chartered Accountant and serve the nation with their capabilities and knowledge.

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ICAI Scholarships from CASBF for Needy and Meritorious Students

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