IDFC First Bank Announces Scholarship for Meritorious Students of Data Science in NMIMS

IDFC FIRST Bank announced scholarships for meritorious students of Mumbai's leading institution, NMIMS' School of Mathematics, Applied Statistics & Analytics (SOMASA). The scholarship is open to first-year data science and analytics students at SVKM's NMIMS (SOMASA).

The grant will cover students' annual fees in the first year of their respective program. The awardees will also get an opportunity to intern at IDFC FIRST Bank. They will be paid a stipend, with the possibility of a pre-placement employment offer to work with the Bank's Data Science & Analytics team, based on their performance during the internship. The internship will be for two months and may be extended for an additional four months.

B Madhivanan, Chief Operating Officer, IDFC FIRST Bank, said, "We are committed to building and supporting talent in data science and analytics, a dynamic and high-demand field. The scholarship program also ties in well with two of the three pillars of our Bank's business philosophy i.e. being digital and a force for social-good. The announcement of the scholarship at NMIMS, one of India's leading universities, is just the beginning. Going forward, we hope to expand this initiative and enable more students to blaze new trails in their academic and professional pursuits."

Dr Ramesh Bhat, Vice-chancellor, SVKM's NMIMS, said, "I thank and congratulate IDFC FIRST Bank for initiating this scholarship program for the meritorious students of NMIMS School of Mathematics, Applied Statistics & Analytics. The scholarship program is one of the excellent initiatives that will benefit students pursuing their education in data analytics at NMIMS. The partnership with IDFC comes at a very appropriate time, which will help us train students for preparing project work, internships, and the final placements.

We have recently undergone a restructuring of our school and departments, which has led to the creation of the School of Mathematics, Applied Statistics & Analytics. The new school will be under the leadership of Dr Sushil Kulkarni, who has recently joined us as the Dean, and we are sure that he would take the school to the new heights."

The selection of students for the IDFC FIRST Bank Meritorious Student Scholarship will be based on their first-semester examination results, followed by personal interviews. Equal weightage will be given to academic excellence and the Bank's internal evaluation in the selection process.

IDFC FIRST Bank has awarded 1028 scholarships to students enrolled in B-schools with a family income of less than Rs. 6 lakh per annum.

With a legacy of 41 years, SVKM's NMIMS has grown to be not only one of the top-10 B-schools in India but also emerged as a multi-disciplinary, multi-campus University at Mumbai, Navi Mumbai, Indore, Shirpur, Dhule, Bengaluru, Hyderabad and Chandigarh and seventeen constituent schools that include Management, Family Business, Engineering, Pharmacy, Architecture, Commerce, Economics, Law, Science, Liberal Arts, Design, Performing Arts, Mathematical Science, Agricultural Science, Hospitality Management, Branding & Advertising and Distance Learning.

NMIMS has eleven Centres of Excellence as well at the University. The consistent academic quality, research focus, faculty from top national and global institutes and strong industry linkages at NMIMS have placed it amongst the nation's prime centres of educational excellence and research today. It has taken major initiatives in terms of programs, curriculum development, international linkages, placements and students' development. Today, the University is a globalized centre of learning, providing its students a balanced exposure to the industry's research, academics, and practical aspects.

IDFC FIRST Bank's vision is to build a world class bank in India, guided by ethics, powered by technology, and to be a force for social good. Though the Bank is a recent entrant to the banking system in India, IDFC FIRST Bank was the first universal bank to introduce monthly interest credits to customers on savings accounts, low dynamic APR and lifetime free credit cards, intuitive and personalized mobile app, digital savings and lending solutions, contemporary wealth management, digital cash management solutions, unique multi-purpose fleet card and Fastag solutions, a cutting- edge corporate banking portal and other such unique industry-first features.

The Bank has a balance sheet of Rs. 1,74,232 crore, and has provided over 30 million loans in its history. It serves customers in over 60,000 villages, cities and towns across the length and breadth of the country. In a short time, the Bank has expanded to 599 branches, 201 asset service centres, 727 ATMs and 620 rural business correspondent centres across the country, and is incrementally growing digitally. The Bank enjoys the trust of millions of customers and its deposits have grown at a CAGR of 84 per cent during the three years since merger.