The Indian School of Business has decided to award merit scholarships worth Rs 2.5 crore to the students of the incoming class of 2014.

These scholarships called "diversity scholarships" would be in sectors like healthcare, media, hospitality etc. They will be awarded to professionals in a bid to further diversify the classrooms, said a release from the biz school.

In addition to the above sectors, manufacturing, social sector, media, fashion and technology are where more opportunities are to be created at the post-graduate programme of the ISB through scholarships.

The ISB has a total merit scholarship fund of 5.25 crore and almost 50 per cent of this amount will now be made available to professionals from these fields. The selection criteria is broadly based on parameters like academic background, analytical ability, work experience, leadership potential and diversity, the release added.

In the past few years students from varied backgrounds such as the armed forces, practicing doctors, civil servants, fashion designers and shipping crew had joined the post-graduate programme.

The present class of 2013 at the ISB comprises 767 students in the Hyderabad and Mohali campuses.