Founder of Infosys Narayana Murthy entered into a Memorandum of Understanding (MoU) with the Indian Institute of Management Ahmedabad (IIMA) on Tuesday to establish an inflation-adjusted, full-fee scholarship.
The scholarship will be awarded annually to an eligible student who achieves the highest Cumulative Grade Point Average (CGPA) in the first year of the Post Graduate Programme (PGP), said a press release.
"I am pleased to establish this scholarship at IIMA in honour of Professor Jaswant G Krishnayya’s enduring legacy and significant contributions to IIMA. This also serves as a testament to Professor Krishnayya’s pivotal role in shaping my early life and career," Murthy said.
The scholarship will cover the recipient’s annual tuition fee, hostel expenses, course material, and mess charges for the two-year PGP at IIMA, the release added.
Murthy has committed to funding the scholarship for 20 years. The aggregate payout for the scholarship over 20 years is estimated at Rs 12 crore.
"It is my hope that this scholarship will inspire students to strive for excellence and make a positive impact on the world," he added.
Pankaj Patel, chairperson of the IIMA Board of Governors, said that Murthy’s bond with IIMA began in 1969 as chief systems programmer and deepened further when he served as Chairman of the Institute from 2002 to 2007.
"This scholarship reflects his continued commitment to IIMA’s mission and the transformative power of education. We are honoured by his gesture, which pays tribute to a respected faculty member and supports future generations of leaders," he added.
Prof Bharat Bhasker, director of IIMA, said the initiative reflects IIMA’s vision of enabling merit-based access to management education while paying tribute to those who helped build the institute into what it is today.
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