News Description
Kotak Education Foundation signs MoU with IIT Bombay for the launch of an Exclusive Kotak Kanya - IIT Bombay Scholarship, 2024-25
By Kotak Education Foundation
August 14, 2024
Kotak Education Foundation (KEF) - the CSR implementing agency of Kotak Mahindra Group, signed a Memorandum of Understanding (MoU) with IIT Bombay, on 12th August, 2024. In a bid to empower promising women from underserved communities of IIT Bombay and support their academic journeys, IIT Bombay and KEF have joined forces to offer an exclusive Kotak Kanya-IIT Bombay Scholarship. This initiative underscores our commitment to nurturing talent and facilitating access to quality education.
The MoU was exchanged under the able leadership and amidst the esteemed presence of Prof. Ravindra D Gudi, Dean Alumni and Corporate Relations, IIT Bombay, Prof. Pratibha Sharma, Associate Dean Academic Programs, IIT Bombay, Prof. Pradeepkumar PI, Chairperson, Institute Scholarships Committee, IIT Bombay, Mr. Ravishankar Gedela, CEO, IIT Bombay Development and Relations Foundation (IITB DRF), Dr. Ganesh Raja, CEO, Kotak Education Foundation, Mr. Parag Ganu, CFO, Kotak Education Foundation, Ms. Jayasree Ramesh, Director-Education and Scholarship, Kotak Education Foundation & Ms. Arati Kaulgud, Project Head, Scholarship, Kotak Education Foundation.
The scholarship program aims to empower the girl students from IIT Bombay by providing them with financial support of INR 2.85 lakhs per year till the completion of their professional graduation course/degree, enabling them to pursue their higher education without financial constraints. Beside, Financial assistance, the scholarship facilitates holistic development of the scholars through intensive student engagement and finishing school activities.
Dr. Ganesh Raja, CEO, Kotak Education Foundation said “Empowering girl children from underserved communities through education, the Kotak Kanya IIT Bombay Scholarship is a powerful, transformative, industry-leading collective for social progress. This pivotal merit-cum-means scholarship is designed to provide a comprehensive umbrella of financial aid, holistic mentorship, industry exposure, valuable career counselling and academic support, critical life skills and communication skills. A sustainable enabler of equitable, quality education, this scholarship will help students thrive, facilitate economic empowerment, drive mindset changes and foster future leaders”.
Prof. Ravindra Gudi, Dean Alumni & Corporate Relations at IIT Bombay said: “IIT Bombay is delighted to partner with Kotak Education Foundation to launch the Kotak Kanya-IIT Bombay Scholarship. Aligned with national initiatives for women empowerment such as GATI, IIT Bombay is determined to break down barriers and drive gender equality in higher education. The Kotak Kanya-IIT Bombay Scholarship is a powerful catalyst for change that will enable exceptional young women from underserved communities to claim their rightful place in STEM fields. Such scholarships support plays a crucial role in advancing gender equality by opening doors for more women to join IIT Bombay. By investing in these future leaders, we are not only fostering excellence in education but also contributing to a more inclusive and equitable society. This initiative will empower these young women to break barriers, achieve their full potential, and spark a ripple effect that will resonate far beyond their communities to help shape a better world."
Jayasree Ramesh, Executive Committee Member (EC) & Director of Education Programme and Scholarship, Kotak Education Foundation said, "Today marks a watershed moment in the journey towards gender equality and scientific advancement. This partnership between Kotak Education Foundation and IIT Bombay is a testament to our collective commitment to empowering young women to be leaders and change-makers in the fields of STEM. This scholarship will support girls in breaking barriers and becoming successful professionals and role models for their families and communities. By investing in their education, we are nurturing individual potential and cultivating a brighter future for our nation”.
Kotak Kanya IIT Bombay Scholarship Eligibility Criteria: Open for meritorious girls of IIT Bombay.
• Applicants must have scored 75% or more marks or equivalent CGPA in Class 12 board
examinations.
• Applicant annual family income must be less than INR 5,00,000.
• Meritorious girls who have secured admission to the first year of graduation programs in the
academic year 2024-25 at IIT Bombay for the graduation degrees like B.Tech, BS, B.Des and
integrated Master’s program.
• Applicants must be within top 20,000 rank in the advanced Joint Entrance Examination (Adv.
JEE)
Kotak Kanya IIT Bombay Scholarship Benefits:
• The Scholarship has a holistic approach towards nurturing the scholars beyond financial aid making them ready for the professional world.
• The Scholarship provide scholars with intensive student engagement support such as mentoring sessions, life skill and mental well-being sessions in collaboration with reputed finishing school organizations to make them future ready.
• Expert mentoring session by industry expert from the particular domain helps the scholars to get a glimpse of the real world professional landscape.
• To support students in their academic journey KEF also provided the engineering and medical students with additional subscription of Unstop and Marrow respectively for additional skill development of the scholars in their respective fields.
Kotak Education Foundation
It has been a rewarding sixteen years since we embarked on our mission to equip economically disadvantaged children and youth with education and foundational skills, galvanizing them towards a better future. Our ‘Inch Wide Mile Deep’ approach, home-grown projects focused on quality education for the low-income segment have been instrumental in shaping the success of our projects across India. KEF’s approach is primarily three-pronged –
a) holistic interventions with children and educators in school,
b) equitable scholarships for higher studies, and
c) vocational education and skills training for livelihood.
KEF launched Kotak Kanya Scholarship in 2021 to offer financial and academic support to meritorious girl students for the pursuit of higher education from all across India. Kotak Junior Scholarship supports meritorious students from the Mumbai Metropolitan Region for pursuing 11th and 12th Standard. KEF’s Unnati project upskills unemployed youth from economically weaker sections of society and coaches them in the basics of IT and spoken English, life skills and personality development. It ensures placements for all eligible participants so they can stride with confidence into any professional sphere.
KEF’s scholarship wing has been supporting students for over a decade, providing scholarships and financial assistance to over 3600 scholars till date. Over 800 alumni are successful white-collar professionals working in leading companies and other esteemed institutions.
KEF is now at the cusp of change as it prepares for the next chapter in its journey toward empowering the youth with quality education and livelihood. Armed with its vast experience and expertise, the organization now aims to scale its depth as well as the breadth of its reach. KEF’s philosophy is evolving from a ‘school as a unit’ to working toward district/state level education transformation. As KEF expands its ambit, it will help drive systemic reform and state education transformation to create long-term Impact at Scale. Strengthening school leadership and teacher capacity building, creating a digital ecosystem and learning environment in schools, equipping middle school students with confidence and skills of communicative English, upskilling teachers to provide Foundational Literacy & Numeracy skills through Kshamata project and supporting districts in building and running Model Schools through these key projects. KEF is expanding to new geographies through the capacity building- Kshmata project beyond Maharashtra, supporting schools in Gujarat, Andhra Pradesh and Goa.
Kotak Education Foundation is the primary implementing agency for the CSR initiatives of Kotak Mahindra Group in Education. Kotak Karma is the Corporate Social Responsibility (CSR) identity of Kotak Mahindra Group Companies.
For more information, please visit the Company’s website at www.kotakeducation.org
About Kotak Mahindra Group
Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd (KMBL).
Kotak Mahindra Group (the Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked.
Kotak Mahindra Group has a global presence through its subsidiaries in UK, USA, Gulf Region, Singapore and Mauritius with offices in London, New York, Dubai, Abu Dhabi, Singapore and Mauritius respectively. As on 31st March, 2023, Kotak Mahindra Bank Ltd has a national footprint of 1,780 branches and 2,963 ATMs, and branches in GIFT City and DIFC (Dubai). For more information, please visit the Company’s website at https://www.kotak.com
About IIT Bombay
Indian Institute of Technology Bombay, set up in 1958 as the second IIT, is recognised worldwide as a leader in the field of engineering education and research. The Institute was granted the status of 'Institution of Eminence' by the Ministry of Education (the then Ministry of Human Resources Development) on July 9, 2018. IIT Bombay is reputed for the quality of its faculty and the outstanding calibre of students graduating from its undergraduate and postgraduate programmes. The Institute has 17 academic departments, 36 (Centres/ Programmes/ Academic facilities/ Hubs/ Externally funded centres and Labs), three schools and three Interdisciplinary programmes. Over the last six decades, more than 70,000 engineers and scientists have graduated from the Institute. It is served by more than 715 faculty members considered not only amongst the best within the country but also highly recognised in the world for achievements in the field of education and research. On June 4, 2024, IIT Bombay was ranked
1st in India and 118th in the world in the Quacquarelli Symonds (QS) World University Rankings for 2025. Media Contact: Mrs Falguni Banerjee Naha, Public Relations Officer, IIT Bombay Ph. No. 022-25767025
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