Introduction of IOCL Scholarship
The Indian Oil Corporation is India’s largest oil company. The year 2010-2011 profits for the company were $1.6 million. The Indian Oil Company is ranked 98th in the latest Fortune “Global 500” listings. Among the company’s social responsibility strategies, the scholarship scheme plays a prominent role. Its aim is to open a window of opportunity for talented and well deserving Indian students to further their higher education by way of offering them scholarships. The IOCL scholarship awarded to Indian students enables the company to support and encourage students to achieve their dream, and to serve their country.
A total of 2,600 scholarships for academic students and 50 scholarships for athletes are awarded under select categories. The scholarship is awarded to students studying their first year of ITI, engineering, MBA, and MBBS. The scholarship program especially encourages the physically handicapped and girls from the Northeast States of India and Jammu and Kashmir to apply. Therefore, students applying for these scholarships need to ensure that they fit into those categories for which the scholarship is available.
Eligibility Criteria for the IOCL Scholarship Program
Every scholarship program has eligibility criteria that students need to fit into. Students interested in applying for the scholarship need to be sure that they fit into the criteria mentioned.
- All students need to study in the streams mentioned above in order to apply for the scholarship.
- Students doing their post graduate degree in Business Management or Administration are eligible for application in the management stream scholarship.
- Scholarship for engineering students is open to those who are in the first year of full-time engineering degree courses.
- Graduates interested in applying for the scholarship should be aware that the average percentage of marks of all the academic years will be treated as marks obtained by the applicant.
- If the percentage of marks obtained for 10th and 12th grades is not mentioned by the Board or University, the obtained percentage of marks is calculated on the total aggregate marks.
- The gross income of the applicants’ family should not exceed Rs.100,000.00. Preference, however, will be given to students’ families that do not earn more than Rs.60,000.00.
- The age of the applicants should not be below 15 or over 30 when applying for the scholarship.
Value and Duration of the IOCL Scholarship
The IOCL Scholarship program offers 1,321 scholarships to 10+/ITI students who will be given Rs.1,000 a month for two years. There are 296 scholarships for engineering students who will receive Rs.3,000 a month for four years. In addition, 183 scholarships will be awarded to students aspiring to do their MBBS courses, and selected students will receive a sum of Rs.3,000 for four years. Furthermore, 98 scholarships will be awarded to aspiring MBA students who will receive a sum of Rs.3,000 a month for two years. The top scholar from the final year of Engineering, Medicine and Management and the top 10 scholars in the final year of ITI are awarded a bonus prize of Rs.10,000. Winners who receive this award will also be invited to the annual day function of the Indian Oil Institute of Petroleum Management in Guraon for the awards presentation. All costs incurred by the applicant for the awards ceremony will be borne by IOCL.
Application Process for IOCL Scholarship
The application process for the scholarship can be done online. Applicants will be able to do so by visiting the official website of the IOCL and downloading the application form. The completed application form can either be submitted online or sent through the mail. As with all scholarship programs, applicants need to be aware of the deadline for applications. Late submission of the application form will result in the rejection of the application for an IOCL scholarship. All relevant documentation, authorised by the competent authorities such as schools or universities, is necessary when applying for the scholarship program.
See official website for IOCL Scholarship: