ICAI Scholarship 2020: Get the details about the ICAI Scholarship for CA candidates 2019 (Merit and Need-based Scholarships). ICAI welcomes applications for the remuneration of Scholarships to the chosen candidates to be funded each year. The qualified candidates are required to apply in the designated Scholarship application.
The Board of Studies (BOS), Institute of Chartered Accountants of India (ICAI) compensates several Scholarships to candidates, specifically, Merit, Merit-cum-Need based and Need-based and Weaker Sections two times a year. It is given in the month of April and October. Candidates may obtain the CA Scholarship related publications in the candidate’s Journal “The Chartered Accountant Student” inviting applications for rewarding the scholarships.
ICAI Scholarship Dates
The application form filled and signed in the preferred formats needed to be sent to the following address:
Director, Board of Studies,
The Institute of Chartered Accountants of India,
ICAI Bhawan, A-29, Sector-62,
NOIDA-201309.
ICAI Scholarship last date to receive the application form is 31st March for April term and 30th September for the October term as per the announcement made at the ICAI Website.
- Scholarship From April 2019 – 2nd April 2019 (For November 2018 Toppers)
- Scholarship From October 2019 – 30th September 2019 (For May 2019 Toppers)
- Scholarship from April 2020 – 31st March 2020
List of CA Scholarships
Scholarships for CA candidates at Rs 1250 Per Month
| Scholarship Category | Number of Scholarships | Eligibility Criteria |
| Need-Based and Weaker Sections | 125 | candidates of Intermediate (IPC) Course whose parents/ guardians total annual income does not surpass Rs 1,00,000/- |
| 150 | candidates of Final Course whose parents/ guardians total annual income does not surpass Rs 1,00,000/- | |
| As per eligibility criteria | The candidates pursuing Intermediate (IPC) or Final Course of the deceased members of ICAI where monetary support is granted to spouses of the deceased members from the Chartered Accountants Benevolent Fund (CABF) shall also be qualified for the scholarship. | |
| Sri Dhanraj Kanhaiyalal Dudheria Scholarships | 5 | candidates of Intermediate (IPC)/Final year from Karnataka State under Need-Based and Weaker Sections criteria |
| R.K. Khanna Memorial Scholarships | 1 | candidates of Intermediate (IPC)/Final year under Need-Based and Weaker Sections criteria |
| J.S. Lodha Memorial Scholarships | 2 | candidates of Intermediate (IPC)/Final year under Need-Based and Weaker Sections criteria |
| J.M. Sethia Charitable Trust Scholarships | 1 | candidates of Intermediate (IPC)/Final year under Need-Based and Weaker Sections criteria |
| BCCO Foundation Scholarships | 1 | candidates of Intermediate (IPC)/Final year under Need-Based and Weaker Sections criteria |
| Out of Joint Corpus formed by Donors | 5 | candidates of Intermediate (IPC)/Final year under Need-Based and Weaker Sections criteria |
ICAI Scholarship Eligibility Criteria
If Candidates want to get off the scholarship, then they have to meet conditions for the reward of Scholarships. Aspirants shall be the enrolled candidates of Intermediate (IPC) or Final Course of ICAI.
Income certificate / Category certification is a necessity avail of the scholarship. Income Certificate to be presented on the letterhead of the Principal by the Student getting experience of Articleship or on the letterhead of any member of ICAI by the Student not pursuing Articleship.
ICAI Scholarship Application Procedure
All the candidates who come under the eligibility requirement can get financial assistance. The eligibility criteria state that the candidates must have a legitimate registration in the CA course/ currently pursuing articled/ industrial practice as per the CA regulations. The yearly income of parents must be less than 3 lakh from all sources of income. All the candidates who need to avail of the scholarship must address the filled-up application form to the address specified in the notice before the last date, i.e., December 15, 2019.
- Visit the official ICAI website.
- Click on ‘Scheme of Financial support/Scholarship to candidates of CA Course, the Year 2019-20 link’.
- Click on the application.
- Fill in all the needed information and recommend it from any Central Council Member.
- Send the filled up application to the specified address in the official notification.
ICAI Scholarship Rewards
Merit Scholarship (For Final candidates)
- Eligibility: The candidates whose names exist at Serial Number 1 to 10 and in case the rank at Serial Number 10 continues to Serial Number 11 or to Serial Number 12 or so on are all rank holders of Intermediate (IPC)/ Intermediate Examinations.
- Scholarship Period (months): 30 or remaining period of articleship whichever is less.
- Amount: Rs.2000/-
MERIT-CUM-NEED Based (For Final candidates)
- Eligibility: All candidates (other than candidates covered under Merit Scholarship) whose names exist in the Merit list of Rank holders of the Intermediate (IPC)/ Intermediate Examinations.
- Scholarship Period (months): 30 or remaining period of articleship whichever is less
- Amount: Rs.1500/-
NEED-BASED and WEAKER SECTIONS
- Number of Scholarships: 1000 (600 for Inter. 400 for Final)
- Eligibility: The candidates pursuing Intermediate (IPC)/ Intermediate or Final Course of the deceased members of ICAI where financial assistance is provided to spouses of the deceased members from the Chartered Accountants Benevolent Fund (CABF) are also eligible for the scholarship.
For Intermediate (IPC)/ Intermediate candidates
| Period of Scholarships | 18 months |
| Amount | Rs.1250/- (per month) |
For Final Candidates
| Period of Scholarships | 30 months or the remaining period of articleship whichever is less |
| Amount | Rs.1250/- (per month) |
ICAI Merit Scholarship
The candidates whose names appear at SerialNumber1 to 10 (in case the rank at Serial Number 10 continues to Serial Number 11 or to Serial Number 12 or so on, all such rank holders) of the Merit lists of Intermediate (IPC)/ Intermediate Examination held in May/November each year are rewarded Merit Scholarship of Rs. 2000/- per month. Rank possessors of Intermediate (IPC)/ Intermediate registered for Final Course will get Scholarship for 30 months maximum or the remaining period of their ICAI Scholarship for articleship whichever is less. Hence they are not required to apply.
ICAI Merit-cum-Need-Based Scholarship
All candidates (apart from covered under Merit Scholarship) whose names exist in the Merit list of Rank holders of the Intermediate (IPC)/ Intermediate Examination and their parent’s total income is not more than Rs.2,50,000 per annum are qualified to apply for compensation of Merit-cum-Need scholarship. The candidates who would be chosen for a reward of scholarship falling in this category will be granted at Rs. 1500 per month for a maximum period of 30 months or the remaining duration of articleship whichever is less on being enrolled for Final Course.
Need-Based and Weaker Sections ICAI Scholarship
Candidates of Intermediate (IPC)/ Intermediate and Final Course are qualified to appeal for a reward of Need-based Scholarships. The annual income of their parents should not be more than Rs.2,00,000 per annum. The candidates who would be chosen for the reward of the scholarship will be given at Rs. 1250 per month for 18 months to Intermediate (IPC)/ Intermediate students and for a maximum period of 30 months or remaining duration of articleship whichever is less to Final candidates.
A total of 1000 scholarships are rewarded to candidates each year under this category: 600 for Intermediate (IPC)/ Intermediate and 400 for Final Course. Two scholarships are held each year for physically disabled candidates. For SC/ST/OBC class candidates, an additional price of Rs.100 per month will be paid on the assent of a certificate/ documentary evidence duly attested by a member of the Institute.
While choosing candidates the execution of their CPT/Foundation/ Graduation / Intermediate (IPC)/ Intermediate, as well as parents’ income is taken into concern. Physically disabled candidates or those who do not have any earning person in their family are given preference.
Over and above the whole of scholarships under this section, the children undergoing Intermediate (IPC)/ Intermediate or Final Course of the deceased members of ICAI where financial assistance is given to spouses of the deceased members from the Chartered Accountants Benevolent Fund (CABF) shall also be qualified for the scholarship.
The amount of scholarship is likely to be stopped in each category in case the beneficiary does not pass the Intermediate (IPC)/ Intermediate/Final Examination in the first two qualified chances.
FAQ’s On ICAI Scholarship
Question 1.
How can I get a scholarship from ICAI?
Answer:
- Step – 1: Visit the official ICAI website.
- Step – 2: Click on ‘Scheme of Financial Assistance Scholarship to candidates of CA Course, the Year 2019-20 link’.
- Step – 3: Click on the application.
- Step – 4: Fill in all the needed information and recommend it from any Central Council Member.
- Step – 5: Send the filled up application to the mentioned address in the official notification.
Question 2.
Where to submit the application?
Answer:
The appropriately completed Scholarship application form should approach to:
The Director,
Board of Studies,
The Institute of Chartered Accountants of India,
ICAl BHAWAN, A-29, Sector – 62,
NOIDA- 201 309,
The form should be submitted before the last date i.e 31st March for April session and 30th September for October session as per the advertisement received at the ICAI Website and announced in the candidate’s Journal “The Chartered Accountant Student” in March and September respectively.