The Kotak Life Insurance Scholarship Program 2024-25 is a good initiative by Kotak Mahindra Life Insurance Company Ltd. as it aims to assist students from Tamil Nadu and Maharashtra. The objective of this program is to provide an increasing amount of financial help to deserving students undertaking higher studies so that money doesn’t become an obstacle in the way of their education.
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About the Kotak Life Insurance Scholarship Program
The Kotak Life Insurance Scholarship Program is available only to such students who are currently in the first year of the B.Com. (Bachelor of Commerce) course in the predefined colleges in the states of Tamil Nadu and Maharashtra. Suppose the students selected under the program have their academics funded for INR 30000 per annum. This amount is for a maximum period of three years. It relieves the students of the financial burden of tuition fees and other academic requirements.
Objectives of the Program
The primary goal of the Kotak Life Insurance Scholarship Program is to:
- Promote higher education among students from economically weaker sections.
- Alleviate financial burdens that may prevent students from continuing their education.
- Encourage academic excellence by providing scholarships to deserving students who have shown exceptional academic performance in their previous education.
About Kotak Mahindra Life Insurance Company Ltd.
Kotak Mahindra Life Insurance Company Limited (Kotak Life), a life insurance company incorporated in India, is a 100 percent subsidiary of Kotak Mahindra Bank Limited. With stress on one-on-one relationships, Kotak Life has introduced various insurance products to serve multiple customers. The company works towards giving the younger generation a better society through scholarships and other charitable programs.
Eligibility Criteria for the Scholarship
To be eligible for the Kotak Life Insurance Scholarship Program 2024-25, students must meet the following criteria:
- Residency: Applicants must be residents of Tamil Nadu or Maharashtra.
- Educational Background: Students must be enrolled in the first year of a B.Com. course at any of the eight specified colleges in Tamil Nadu and Maharashtra.
- Academic Performance: Applicants must have scored a minimum of 65% marks in both Class 10 and Class 12.
- Class 12 Graduation Year: Students must have passed Class 12 in the academic year 2023–24.
- Family Income: The annual family income of the applicant should be INR 3,60,000 or less.
Specified Colleges Eligible for the Scholarship
The scholarship is open to students from the following colleges:
- A. Veeriya Memorial Sri Pushpam College (Thanjavur, Tamil Nadu)
- Nadar Mahajana Sangam S. Vellaichamy Nadar College (Madurai, Tamil Nadu)
- Edayathangudy G.S. Pillay Arts and Science College (Nagapattinam, Tamil Nadu)
- Jai Hind Sindhu Education Trust’s Manghanmal Udharam College of Commerce (Pune, Maharashtra)
- Gokhale Education Society’s B.Y.K. (Sinnar) College of Commerce (Nashik, Maharashtra)
- LRD and SRP College for Women (Nagpur, Maharashtra)
- Vysya College (Salem, Tamil Nadu)
- Dharmapuram Adhinam Arts College (Mayiladuthurai, Tamil Nadu)
Important Note
It is important to note that children of employees of Kotak Mahindra Life Insurance Company are not eligible for this scholarship.
Benefits of the Scholarship
The Kotak Life Insurance Scholarship offers several benefits, which include:
- Financial Support: Selected students will receive up to INR 30,000 per year for three consecutive years. This amount is intended to cover academic expenses such as tuition fees, books, and other educational needs.
- Consistency in Support: The scholarship is provided for the full three-year duration of the B.Com. course, ensuring consistent financial aid throughout the student’s academic journey.
Documents Required for Application
To apply for the Kotak Life Insurance Scholarship Program, applicants must submit the following documents:
- Mark sheets and passing certificates for Class 10 and Class 12.
- Government-issued identity proof (Aadhaar card, voter ID card, driving license, PAN card).
- Proof of current year admission (fee receipt or admission letter).
- Student ID card or bonafide certificate issued by the institution.
- Income proof, such as Form 16A, an income certificate from a government authority, or salary slips.
- Bank account details (bank passbook or a canceled cheque).
- Recent passport-size photograph.
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Final Remarks
It constitutes one of the major highlights of the Kotak Life Insurance Scholarship Program 2024-25 program for Higher education wherein the selected candidates can pursue their Higher studies without any financial burden, particularly Indians from Tamil Nadu and Maharashtra. In extending financial assistance to students who meet the eligibility criteria, Kotak Mahindra Life Insurance Company Ltd. is helping shape and ensure the future of the academic environment in this country. Students eligible for this program should not miss the opportunity to apply and take advantage of this valuable financial support as this is limited and available on a first-come, first-served basis.
More details are available on the Buddy4Study platform, and students must submit their applications for the Autumn Session by the 15th of September 2024, the last date for receiving applications.
With the right support, students can achieve their academic goals and build a bright future, and the Kotak Life Insurance Scholarship is a step in that direction.
FAQs
Who can apply for the Kotak Life Insurance Scholarship Program 2024-25?
Those students with domicile of Tamil Nadu or Maharashtra and those in the First Year of B.Com who have passed class X and XII with a minimum of 65 percent are eligible to apply. Also, their family income must not exceed INR 3,60,000.
Under this scholarship, how much financial assistance is available?
This scholarship provides up to INR 30,000 for three years for hotel academic services like other fees, textbooks, and other educational needs.
What supporting documents are necessary to obtain the scholarship?
Class 10th and 12th possession of mark sheets, proof of identity, admission for the current year, annual income of the applicant, bank account information, and a passport-sized recent photo are mandatory for the applicants.
Can the children of Kotak Mahindra Life Insurance employees also apply for the scholarship?
Children of employees of Kotak Mahindra Life Insurance do not get this scholarship.
