Magma to offer scholarship to 100 meritorious students

City-based NBFC, Magma Fincorp Ltd today announced a scholarship programme for 100 meritorious students from underprivileged families for higher studies.

Keeping alive the motto of 'investing in the smallest dreams', Magma started offering financial assistance in the form of scholarship to meritorious students from 2015 under "M-Scholar" for graduate studies, Magma vice president, CSR, Kaushik Sinha said.

A student will get between Rs 20,000 and Rs 50,000 per academic year in general stream, engineering or medical under the scholarship.

To be eligible for scholarship, a student has to secure 80 per cent marks in class 12 examination and the family income should be less than Rs 10,000 per month. The student also should not be more than 20-years old.

During the past three years, Magma had awarded scholarships to 200 students, he said.