Mélange Finance

Applications Invited for Federal Bank Hormis Memorial Foundation Scholarship

Mumbai, 27th October 2021: Federal Bank invited applications for Federal Bank Hormis Memorial Foundation Scholarships for the academic year 2021-22. The scholarship is instituted in memory of the Founder of the Bank, Late Shri K P Hormis.

Students applying for the scholarship should have secured admission under merit in Government/ Aided/ Government recognized self-financing colleges during the academic year 2021-22. Courses eligible for the scholarship are MBBS, Engineering, BSc Nursing, BSc Agriculture including BSc (Hons) Co-operation & Banking with Agriculture Sciences conducted by Agriculture Universities and MBA. The annual family income of the applicant should be below ₹ 3,00,000/-. Children of armed forces personnel who gave up their life for the nation will be considered under a separate channel and the family income stipulation is not applicable to students falling under this category.

Students belonging to the states of Kerala, Tamil Nadu, Gujarat and Maharashtra are eligible to apply for the scholarship.

One seat in each discipline will be kept aside for physically challenged students, which shall be duly evidenced by a certificate issued by a Medical Officer not below the rank of DMO or an approved Medical Officer of the Bank. If applications are not received under physically challenged category, it will be utilized under general category.

Selected students will be reimbursed 100% of tuition fees and other educational expenses paid as per the fee structure of the college, subject to a maximum of Rs.1 Lakh per year.

About Federal Bank Limited:

Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,289 banking outlets and 1,957 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.05 Lakh Crore as on March 31, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.62% as on 31st March 2021. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve center for Non Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.

This news was shared to Prittle Prattle News via press release.

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