The MICA Scholarships & Financial Aid page describes two different forms of support: annual merit-cum-means scholarships and a separate Equity Scholarship. The rules are useful for estimating whether to apply, but the page does not promise an award or publish a dated 2027 application calendar. Treat the policy as MICA’s currently accessible guidance and check the student announcement for the relevant intake before relying on its timing or applying.
Annual merit-cum-means aid
MICA says it awards these scholarships annually to students pursuing studies at the institute. The page names four eligible programmes: the two-year PGDM-C and PGDM, and the one-year PGCM in Advertising and Marketing Communication (PGCM-AMC) and PGCM in Digital Media and Marketing Communications (PGCM-DMMC). It describes a total of 25 to 30 scholarships across all programmes in an academic year, with support ranging from 25% to 100% of tuition fees per selected student. That is a range, not a guaranteed percentage for an applicant; the policy does not give a programme-by-programme award amount or say that all eligible students receive aid.
The first stated screening condition is family income not exceeding ₹10 lakh per annum. MICA says it examines income-tax returns and bank statements for all earning family members for the preceding three years. The application also asks for a brief justification and family background. The page gives no formula for how income, family circumstances or academic performance are weighted, so an applicant should not treat the income ceiling alone as an entitlement.
A separate academic condition applies only to PGP students seeking support for their second year: the first-year record must show a minimum CGPA of 3.00 and attendance of at least 80% across all subjects. The policy also lists other achievements, including state-, national- or international-level competition wins. It does not state a renewal rule for other programme types or say whether first-year recipients automatically continue into year two. Ask MICA’s scholarship office what evidence is required for your programme and year rather than assuming the second-year PGP condition applies identically to one-year certificates.
How the application is decided
The published process begins when MICA notifies students and invites scholarship applications. It then describes preliminary scrutiny of applications and financial documents, an interview or interaction with the MICA Scholarships Committee, recommendations from that committee to management, and a final official notification stating whether a shortlisted student receives aid. The page does not provide a public application form, calendar date, document-upload link or appeal route. Applicants should monitor MICA’s official student notice for the applicable cycle and submit the requested financial records by the deadline in that notice.
This is a selection process, not an automatic fee rebate. A committee reviews need and merit, while management approves recommendations. The policy does not specify how many places are reserved for each of the four programmes, how the 25-to-30 annual total is divided, or whether this aid can be combined with the Equity Scholarship. Confirm those points in writing before budgeting on the assumption that two benefits can be stacked.
Equity Scholarship for first-year PGDM students
MICA separately describes an Equity Scholarship sponsored by its adjunct faculty member Prof. Bikram Bindra. One or two first-year PGDM-C or PGDM students may receive support of up to ₹5 lakh. The page says the final discretion to award scholarships rests with MICA management. It does not publish a separate household-income threshold, selection formula, application date or combination rule for this award; its only stated programme and student-year scope is first-year PGDM-C or PGDM.
For an applicant comparing net cost, treat “up to ₹5 lakh” as a ceiling, not the amount every selected student receives. The published policy does not say whether the support is paid directly against tuition or how it is scheduled. Check the official notice and award communication for the actual amount, payment treatment and any interaction with merit-cum-means aid. The current policy page is the source for eligibility and process, while the relevant student announcement controls the application window.