Narayana Murthy has signed a Memorandum of Understanding (MoU) with the Indian Institute of Management Ahmedabad (IIMA) to establish an inflation-adjusted, full-fee scholarship. The Infosys founder committed to funding the scholarship for a period of 20 years, with the aggregate payout estimated at ₹12 crore over that duration.
This will cover the recipient’s annual tuition fee, hostel expenses, course material and mess charges for the two-year Post Graduate Programme (PGP) at IIMA.
Named the ‘Professor Jaswant G Krishnayya Merit Scholarship,’ it will be awarded annually to a student who achieves the highest CGPA in the first year of the PGP program.
Speaking at the event, he said, “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 scholarship also serves as a testament to Professor Krishnayya’s pivotal role in shaping my early life and career. It is my hope that this scholarship will inspire students to strive for excellence and make a positive impact on the world.”
The IIMA Endowment Fund (IIMAEF), which is the Institute’s unified fundraising and philanthropic arm for all donations from alumni as well as corporate and CSR partners, played a facilitative role in this partnership. The initiative is in continuation of IIMAEF’s broader vision to solidify IIMA’s prominence in thought leadership, research and academic excellence globally, ensuring that financial constraints do not stand in the way of academic potential.
Prof. Bharat Bhasker, Director, IIMA, added, “This generous scholarship is a celebration of excellence, mentorship and impact. We are deeply grateful to Mr. Murthy for honouring Professor Krishnayya’s legacy in such a meaningful way. It reflects IIMA’s vision of enabling merit-based access to management education, while paying tribute to those who helped build this institute into what it is today.”
(With inputs from bl intern Nethra Sailesh)