Infosys founder NR Narayana Murthy has launched a first-of-its-kind, inflation-adjusted scholarship at IIM Ahmedabad that fully funds a two-year MBA for the institute’s top-performing student.
Named the Professor Jaswant G Krishnayya Merit Scholarship, the award will cover tuition, hostel, mess, and course materials—costs that can run up to ₹36.20 lakh—without the recipient paying a rupee.
The scholarship, announced through a formal MoU between Murthy and IIMA, is structured to run for 20 years. It is awarded annually to the student who achieves the highest cumulative grade point average (CGPA) at the end of the first year of IIMA’s flagship Post Graduate Programme (PGP).
The full award is then applied to the student’s second year, with no income criteria or background restrictions—purely academic merit.
Murthy, through his family office Catamaran Ventures LLP, has committed ₹12 crore to the initiative. What sets this apart from traditional Indian scholarships is its inflation linkage: the scholarship amount is revised every year to match the actual fees charged by IIMA, ensuring complete coverage regardless of annual hikes.
In 2025, pursuing a two-year MBA at IIMA costs between ₹34.15 lakh (single accommodation) and ₹36.20 lakh (married housing), making it one of the most expensive MBA programs in India.
The fee includes tuition, hostel charges, mess fees, and academic materials. At other top IIMs like Bangalore and Calcutta, the total cost ranges from ₹26 lakh to ₹34 lakh, while newer IIMs charge between ₹16.28 lakh and ₹21 lakh. These fees usually increase annually due to inflation and operational costs.
“This scholarship reflects [Murthy’s] continued commitment to IIMA’s mission,” said Pankaj Patel, chairperson of IIMA’s Board of Governors. Director Bharat Bhasker called it “a celebration of excellence, mentorship and impact.” For Murthy, the gesture honors the legacy of Professor Jaswant Krishnayya, who played a formative role in his early career. “This is a testament to his pivotal role in shaping my life,” he said.
The IIMA Endowment Fund, the institute’s official philanthropic arm, helped facilitate the partnership, aiming to inspire more alumni-led giving.
