SBI Foundation Launches 3rd Edition of Asha Scholarship Program [Current Affairs]

The State Bank of India (SBI) Foundation has unveiled the third edition of its flagship initiative, the SBI Asha Scholarship Programme. This ambitious program aims to support 10,000 talented students from underprivileged backgrounds across India, offering substantial financial assistance to help them pursue their educational dreams.

Program Overview

Scope and Objectives

The SBI Asha Scholarship Programme is designed to provide financial support to students ranging from Class 6 to postgraduate level. The scholarship amount varies significantly, offering between Rs 15,000 to Rs 20 lakh depending on the level of study and the specific category of scholarship.

Key Features

• Wide Range: Covers school students, undergraduates, postgraduates, and those studying at premier institutions like IITs and IIMs.
• Study Abroad Option: A specialized category for SC and ST students pursuing master’s degrees and higher education at renowned institutions worldwide.
• Application Deadline: Interested students must submit their applications by October 1, 2024.
• Official Website: All relevant information, including eligibility criteria and application forms, is available at sbifashascholarship.org.

Scholarship Categories and Eligibility Criteria

1. SBI Asha Scholarship for School Students

Eligibility:

• Currently studying in Class 6 to 12
• Secured 75% or above in the previous academic year
• Gross annual family income not exceeding INR 3,00,000
• Open to Indian nationals

Additional Notes:

• 50% of slots reserved for female applicants
• Preference given to SC/ST applicants

Benefit:

Each selected student receives INR 15,000

2. SBI Asha Scholarship for Undergraduate Students

Eligibility:

• Pursuing undergraduate courses from premier universities/colleges in India (as per NIRF Top 100 rankings)
• Secured 75% or above in the previous academic year
• Gross annual family income not exceeding INR 6,00,000

Additional Notes:

• Preference for students with family incomes below INR 3,00,000
• 50% of slots reserved for female applicants
• Preference for SC/ST applicants

Benefit:

Selected students can receive up to INR 50,000

3. SBI Asha Scholarship for Postgraduate Students

Eligibility:

• Pursuing postgraduate courses from premier universities/colleges in India (as per NIRF Top 100 rankings)
• Secured 75% or above in the previous academic year
• Gross annual family income not exceeding INR 6,00,000

Additional Notes:

• Preference for students with family incomes below INR 3,00,000
• 50% of slots reserved for female applicants
• Preference for SC/ST applicants

Benefit:

Selected students can receive up to INR 70,000

4. SBIF Asha Scholarship for IIT Students

Eligibility:

• Pursuing undergraduate courses from any Indian Institute of Technology (IIT) in India
• Secured 75% or above in the previous academic year
• Gross annual family income not exceeding INR 6,00,000

Additional Notes:

• Preference for students with family incomes below INR 3,00,000
• 50% of slots reserved for female applicants
• Preference for SC/ST applicants

Benefit:

Selected students can receive up to INR 2,00,000

5. SBI Asha Scholarship for IIM Students

Eligibility:

• Pursuing MBA/PGDM courses from any Indian Institute of Management (IIM) in India
• Secured 75% or above in the previous academic year
• Gross annual family income not exceeding INR 6,00,000

Additional Notes:

• Preference for students with family incomes below INR 3,00,000
• 50% of slots reserved for female applicants
• Preference for SC/ST applicants

Benefit:

Selected students can receive up to INR 7,50,000

Application Process

Documents Required

1. Previous academic year’s marksheet
2. Government-issued ID proof (Aadhaar card)
3. Current year fee receipt
4. Proof of current admission
5. Bank account details
6. Proof of income
7. Applicant’s photograph
8. Caste Certificate (if applicable)

How to Apply

1. Visit the official website and click the ‘Apply Now‘ button
2. Log in to Buddy4Study with your registered ID
3. If not registered, create an account using your Email/Mobile number/Google account
4. Complete the SBIF Asha Scholarship Program 2024 application form
5. Upload the required documents
6. Preview and submit the form after ensuring all details are correct

Selection Process

The selection of scholarship recipients is based on a combination of merit and financial need. The process includes:

1. Initial Screening: Based on academic performance and financial criteria
2. Telephonic Interviews: Shortlisted candidates undergo interviews
3. Document Verification: Final selection after thorough verification of submitted documents
4. Fund Transfer: The scholarship amount is directly transferred to the selected students’ bank accounts

Program Impact and Vision

Since its inception in 2022, the Asha Scholarship has made a significant impact:

• Supported 3,198 students
• Disbursed over Rs 3.91 crore in funds

The SBI Foundation’s primary goal is to ensure access to quality education for students from underserved communities. This aligns with the broader vision of contributing to India’s development.