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Scheme for financing Executive MBA

1 Eligibility The student should be an Indian National with minimumwork experience of 2 years in Government/Corporate/Multinational concern. The minimum age of the student should be 23 years.

Should have been issued NOC by the employer to pursue the MBA programme and avail loan from bank forthat purpose. NOC not applicable if resigned from service. The student should possess Income Tax PAN Numberand self attested copy of the PAN card should be submittedto Bank. Should have secured admission or intimation of finalselection to Executive MBA programme of a reputedinstitution in India or abroad. Students of the Institutes approved by Retail Banking

Department, Central Office, are eligible for loan. List of

institutes attached as Annexure I. Staff of our Bank who fulfill the selection criteria of theinstitute subject to issue of NoC by HRD, C.O.

2 Co-borrower The condition of co-borrower is compulsory. The co-borrower / joint borrower should normally be

parent(s)/guardian of the student borrower. In case of amarried person, joint borrower can be spouse or the

parent(s)/parents-in-law . 3 Eligible

expenses Fee payable to the institute/ hostel. Examination/ Library/ Laboratory fee. Purchase of books/ equipments/ instruments.

Caution deposit, Building fund/refundable depositsupported by Institution bills/receipts Travel expenses/ passage money for studies abroad. Purchase of computer - essential for completion of thecourse. Insurance premium for student borrower Any other expense required to complete the course - likestudy tours, project work, thesis, etc. However, livingexpenses, personal/family maintenance expenses etc. willnot be covered.

4 Quantum of

finance

Maximum Rs.20.00 lakh.

5 Margin NIL6 Security No collateral security, except assignment of present as

well as future income of the student.

Insurance Policy on the life of the student availingEducational Loan to the extent of at least loan amount for aminimum period of loan term (i.e., course period +

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moratorium period + repayment period) assigned in favourof the Bank. Premium to be paid regularly by borrower.

7 Processingcharges

NIL

8 Rate of interest For students pursuing Exe.MBA in IIMs and 4 other

reputed institutes: (Schedule A)

Male Students - Base Rate + 0.50%.Female/SC/ST/Minority Community Students - Base Rate.Interest to be compounded monthly.

No further concession in rate of interest for servicing ofinterest by the borrower during the study/moratorium

period.

For students pursuing Exe.MBA in other institutes(Schedule B)

Base Rate + 1.25%Female/SC/ST/Minority Community Students - BaseRate+1.25% (no concession)Interest to be compounded monthly.

No concession in rate of interest for servicing of interest bythe borrower during the study/moratorium period.

Th e revised rate of i nterest wil l be applicable to newaccounts only.

9 Repayment Repayment in EMIs to start 3 months after completion ocourse.

Loan is repayable in EMIs for a period upto 8 years incase the loan amount upto Rs.7.50 lakh an d upto 12 yearsin case the loan amount i s more than Rs.7.50 lakh .

10 Appraisal/Sanction/Disbursement

The loan to be sanctioned as per delegation of powersand disbursed preferably by the Branch nearest to the placeof employment / residence of the student. The loan to be disbursed in stages as per the

requirement/ demand directly to the Institutions/ Vendors o books/ equipments/ instruments to the extent possible.

Annexure I LIST OF INSTITUTES WHOSE STUDENTS ARE ELIGIBLE FOR FINANCE UNDER EXECUTIVE MBA

SCHEDULE - A1 Indian Institute of Management, Ahmedabad, Gujarat

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2 Indian Institute of Management, Bangalore, Karnataka3 Indian Institute of Management, Kolkata, West Bengal4 Indian Institute of Management, Indore, Madhya Pradesh5 Indian Institute of Management, Kashipur, Uttarakhand

6 Indian Institute of Management, Kozhikode, Kerala7 Indian Institute of Management, Lucknow, Uttar Pradesh8 Indian Institute of Management, Raipur, Chhatisgarh9 Indian Institute of Management, Ranchi, Jharkhand

10 Indian Institute of Management, Rohtak, Haryana11 Indian Institute of Management, Shillong, Meghalaya12 Indian Institute of Management, Trichy, Tamil Nadu13 Indian Institute of Management, Udaipur, Rajasthan14 Xavier Labour Relations Institute (XLRI), Jamshedpur

15 Xavier Institute of Management, Bhubaneswar (XIMB)16 SP Jain Institute of Management and Research (SPJMR), Mumbai17 Management Development Institute (MDI), Gurgaon

SCHEDULE - B1 Symbiosis Institute of Management2 Faculty of Management Studies (FMS) - University of Delhi3 Jamnalal Bajaj Institute of Management Studies (JBIMS)4 Indian Institute of Foreign Trade - IIFT5 Indian School of Business (ISB) - Hyderabad