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Magma Fincorp to select 100 underprevilaged students for Meritourious scholarships


Hyderabad, 03rd June 2019: Magma Fincorp, with a novel cause to support education of the economically underprevilaged students across India, has decided to offer 100 meritorious scholarships for the year 2019-20.


As part of its Corporate Social Responsibility (CSR) Magma Fincorpr has launched this student empowerment initiative and has decided to financially support meritorious students from economically weaker sections to help them pursue hihger education.


Going forward with its initiative Magma Fincorp has launched Magma M-Scholar, a student empowerment initiative which is aimed at helping the academically brilliant students from low income families to pursue their academic aspirations by pursuing undergraduate courses from prestigious institutes.


Sharing the success of various students who were supported by Magma M Scholar scholarhsips, the organisers said that Prempal Kumar, has obtained a rank officer post at the Indian Space Research Organization (ISRO). The son of a farm laborer from Nalanda, Bihar with an income of Rs. 1 lakh per annum, Prempal secured admission to the B. Tech (Aerospace Engineering) at the Indian Institute of Space Science and Technology (IIST), Trivandrum. He plans to work for ISRO for a few years and then go abroad for pursuing further studies. Sujeet Kumar Suman from Madhepur, Bihar is pursuing his B. Tech (Mech. Engg) from the Indian Institute of Technology (Benaras Hindu University). The son of a daily wager with a family income of Rs.3000/month, Sujeet aspires to become an IAS officer. Satyam Kumar from Bihar is the son of a daily wager. A B.Tech in (Electronics Engineering) from the Nehru Institute of Technology (NIT), Allahabad, Satyam has received a job offer from Qualcomm with a package of Rs. 15 lakh/annum and hopes to secure an M. Tech after working for 2 years.


Palle Nagaraju, from Nalgonda district of Telangana is another student making his mark at his Bachelors. Born to daily wagers, he dreams of becoming a civil servant and help the poor evolve.  C Sucharitha from Kamareddy  district is pursuing B Com. She hopes to do her CA and start her own firm. KNS Harshita from Hyderabad is pursuing her B Tech from CBIT, Gandipet and wants to make a career in System Integration from Germany.


“The very foundation of M-Scholar is laid on the core precept of ‘Padhega India tabhi to badhega India’.  We aim to help meritorious students from the underprivileged sections of society embark on the path to attaining academic excellence through this unique scholarship program. The aim is to empower them with the requisite resources and solutions to help them transform their dreams into reality with the tool of education,” says Kaushik Sinha – Head CSR at Magma Fincorp.


M-Scholar was launched in 2015 and over the last 4 years, students who have benefitted from the scholarship program have landed plum jobs in big-ticket public sector and private organizations in key positions. Now again the company announced the launch of M-Scholar 2019, which will provide scholarships to 100 deserving students for higher education at the undergraduate level.Students who are 20 years old, have secured 80% marks in the Class XII exam and have a monthly household income less than Rs.10,000 are eligible to avail the scholarship.       



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