ICAI Scholarship Schemes for CA Students in India

Every year, 93,000 candidates attempt the Chartered Accountant (CA) exam in India, with a passing rate of approximately 25%. Many people desire the professional tag of ‘CA’; many prospective applicants compete for the post but are sometimes hindered by budgetary constraints.

Fortunately, they have access to a variety of scholarships that recognise academic excellence. The Institute of Chartered Accountants of India (ICAI), along with a number of leading Indian organisations and global educational institutions, provides scholarship possibilities for individuals who dare to dream.

These scholarships not only alleviate financial burdens but also provide access to incomparable resources, mentorship, and networking opportunities. Whether you are pursuing your CA path in India or dreaming of an international education, these scholarships can help you succeed. Dive into this guide to discover the top scholarships and how to get them!

SCHOLARSHIP SCHEME FOR CA STUDENTS

Need Based for Economically Weaker Intermediate Students

Scholarship Amount: Rs.1500 per month

Eligibility

a. Students who are registered for an Intermediate Course either through the Foundation Route or through the Direct Entry Route.

b. The Income of Parents should not be more than Rs.3,00,000 per annum.

Period of Scholarship

a. 9 months commencing from the following month of registration for Intermediate Course.

b. Additional 3 months if the Student has completed Orientation Course and IT within the first 9 months of registration for Intermediate Course.

c. Additional 3 months if the Student has passed any one Group in Intermediate Examination within 12 months of registration for Intermediate Course.

(Note: Students who passes both Groups of Intermediate can apply for Scholarship as Final registered students.)

Need Based for Economically Weaker Final Students

Scholarship Amount: Rs. 1500 per month

Eligibility

a. Students who are registered for Final Course.

b. The Income of Parents should not be more than Rs. 3,00,000 per annum.

Period of Scholarship

a. 30 Months or remaining period of Articleship, whichever is less.

Merit-Cum Need Based Scholarship

Scholarship Amount: Rs.2000 per month

Eligibility

a. Rank holders of Intermediate Examinations other than those covered under Merit Scholarship.

b. Student must register for Final Course before making application

c. The Income of Parents should not be more than Rs.3,00,000 per annum.

Period of Scholarship

a. 30 Months or remaining period of Articleship, whichever is less.

Merit Scholarship

Scholarship Amount: Rs. 2500 per month

Eligibility

a. Rank holders of Intermediate Examinations, whose names appear at Sl. No. 1 to 10 and in case the rank at Sl. No. 10 continues to further ranks, i.e., to Sl. No. 11 or to Sl. No. 12 or so on, then all such Rank holders.

b. The student must register for Final Course before making an application.

Period of Scholarship

a. 30 Months or remaining period of Articleship, whichever is less.

Note: Students can apply online anytime for the Scholarship by logging in at the Self Service Portal (SSP). In case of any clarification, please contact at Phone: 0120-3045914; Email: bos.operations@icai.in; Website at www.icai.org

Processes to Apply for Scholarship

FAQs on Scholarship Scheme for CA Students

Question: When does ICAI notify eligible scholarship applicants regarding the selection and grant of scholarships?

Answer: The Selection/Grant of scholarships will be done on Quarterly basis as under:

Question: Are income eligibility criteria and a one-time recommendation required on the Self Service Portal (SSP)?

Answer: Yes, it is a one-time process. The scholarship application of students will only be considered complete when the Income and recommendation certificate is approved by members on the Self Service Portal (SSP) as applicable in the following cases:

i. Case I: Students currently undergoing Articleship must obtain the Income Certificate and recommendation from the Principal under whom they are undergoing Articleship.

ii. Case II: Students who have not yet started Articleship must obtain the Income Certificate and recommendation from any Member of ICAI (Chartered Accountant).

Question: When is the conduct and attendance certificate required in the portal for the release of installments?

Answer: Following the selection and release of the first instalment of the Scholarship, the conduct and attendance certificate is required in the portal for the release of subsequent instalments as outlined below:

i. Students currently undergoing Articleship must provide a Conduct Certificate and Attendance Certificate bi-annually, specifically in April and October, from the Principal under whom they are undergoing Articleship for the release of the next installment of the Scholarship.

ii. Students who have not yet commenced Articleship must provide a Conduct Certificate bi-annually, specifically in April and October, from any Chartered Accountant for the release of the next installment of the Scholarship.

Question: When will students receive the scholarship installments in their bank account?

Answer: Scholarship instalments will be disbursed to the student on a quarterly basis, subject to the following conditions:

i. The student’s eligibility will be verified quarterly.

ii. Conduct and attendance certificates are required semi-annually on the self-service portal.

iii. The student must ensure that an active bank account number, along with the bank IFSC code, is correctly provided on the self-service portal.