IIM Ahmedabad launches inflation-adjusted merit scholarship

The Indian Institute of Management Ahmedabad (IIMA) has introduced a new inflation-adjusted scholarship named the Professor Jaswant G Krishnayya Merit Scholarship.

This endowment is funded by Infosys founder and former IIMA Chairperson Narayana Murthy.

The scholarship will be awarded each year to the PGP student who achieves the highest CGPA at the end of their first year.

Murthy has committed to supporting the scholarship for 20 years, with the total funding estimated at ₹12 crore and adjusted for inflation.

The initiative aims to encourage academic excellence and honor merit at one of India’s premier management institutes.

“This scholarship is a tribute to Professor Jaswant G Krishnayya’s enduring legacy and significant contributions to IIMA,” said Narayana Murthy.

“Professor Krishnayya played a pivotal role in shaping my early life and career. Through this scholarship, I hope to inspire future generations of students to strive for excellence and make a positive impact on the world,” he added.

Murthy’s association with IIM Ahmedabad dates back to 1969, when he joined as Chief Systems Programmer, and he later served as Chairperson of the Institute from 2002 to 2007.

Pankaj R Patel, chairperson of the IIMA Board of Governors and chairman of Zydus Lifesciences, welcomed the announcement, saying, “Murthy’s commitment is a reflection of his longstanding bond with IIMA and his belief in the transformative power of education. This gesture honors a respected faculty member while supporting emerging leaders of tomorrow.”

IIM Ahmedabad Director Prof Bharat Bhasker also praised the initiative, saying, “This generous scholarship is a celebration of excellence, mentorship, and impact.”

“We are deeply grateful to Mr Murthy for recognizing Professor Krishnayya’s contributions in such a meaningful way. It aligns perfectly with our vision of ensuring that financial barriers never stand in the way of academic potential,” he added.

The IIM-A Endowment Fund (IIMAEF), responsible for managing donations from alumni, corporations, and CSR initiatives, played a key role in facilitating this partnership.

The fund supports the institute’s goals of global thought leadership, research, and academic excellence by enabling access to quality education regardless of financial challenges.

Starting from the current academic year, the Professor Jaswant G Krishnayya Merit Scholarship will be awarded annually, reinforcing IIMA’s dedication to meritocracy and educational impact.