March 05, 2026: Muthoot Finance Ltd., India’s largest gold loan NBFC, today conducted the felicitation ceremony of the 9th edition of Muthoot M George Higher Education Scholarships, a professional scholarship program aimed at supporting meritorious students pursuing higher education in professional courses. At an event held at the Muthoot Finance Corporate Office in Mumbai, the company also distributed hearing aids to 27 hearing-impaired children under its ‘Soundscape Project’ in association with the IAS Officers’ Wives Association (IASOWA).
Under the Muthoot M George Higher Education Scholarships, 210 scholarships were awarded to meritorious students across India who have secured admission to B.Tech, MBBS, and B.Sc Nursing programmes for the current academic year. Of these, 27 students from the Mumbai chapter were felicitated at today’s ceremony.
In Maharashtra, 9 students from MBBS, 8 from B.Tech and 10 students from B.Sc Nursing streams were selected for the scholarship. Each MBBS student received a scholarship of Rs 60,000 per year for four years, amounting to Rs 2,40,000 over the course duration. Students pursuing B.Tech and B.Sc Nursing received scholarships of Rs 30,000 per year for four years, amounting to Rs 1,20,000 per student over the full course period. The total estimated financial outlay for Maharashtra beneficiaries across the four-year duration stands at Rs 43.2 lakh.
At the national level, each of the 70 MBBS students will receive Rs 2.40 lakh over the four-year course duration, translating into a total allocation of Rs 1.68 crore for the MBBS stream. Each of the 70 B.Tech students and 70 B.Sc Nursing students will receive Rs 1.20 lakh over four years, translating into Rs 84 lakh allocation for each stream. The total scholarship commitment for the 210 students under the 2025-26 edition stands at Rs 3.36 crore.
Over the past eight editions, the initiative has supported a total of 394 students across the country, with an overall scholarship outlay of Rs 4.62 crore, reflecting the company’s sustained commitment to expanding access to professional education.
Under the Soundscape Project, 27 hearing-impaired children studying in government and private schools across Maharashtra were provided with advanced hearing aids. The total project outlay for the distribution stands at Rs 3.9 lakh. The intervention is expected to significantly enhance the children’s academic engagement, communication abilities and overall development, enabling greater inclusion in mainstream education.
The felicitation ceremony was presided over by Shri Eapen Alexander Muthoot, Executive Director, Muthoot Finance, and the scholarship distribution was carried out by Smt Sujata Saunik, Former Chief Secretary of Maharashtra.
Shri Eapen Alexander Muthoot, Executive Director, Muthoot Finance Ltd, added, “Our objective is to provide sustained, structured support that enables students to pursue and complete their professional education with confidence and dignity. Through initiatives like the Maharashtra chapter and our broader national scholarship programme, we aim to create long-term impact by nurturing capable young professionals who will contribute meaningfully to India’s growth and development.”
Smt Sujata Saunik, Former Chief Secretary of Maharashtra, said, “Initiatives like the Muthoot M George Higher Education Scholarship play a critical role in bridging opportunity gaps for deserving students from economically weaker backgrounds. By investing in professional education, such programmes not only transform individual lives but also strengthen the social and economic fabric of the nation.”
The Muthoot M George Higher Education Scholarship is aimed at supporting academically outstanding students from economically weaker backgrounds to pursue professional education in fields such as medicine, engineering and nursing. Through structured multi-year financial assistance, the initiative seeks to reduce economic barriers and create long term impact through education led empowerment.
Now in its ninth edition, the scholarship programme continues to strengthen Muthoot Finance’s CSR focus on education and youth empowerment, with a structured multi-year support model designed to enable students from economically weaker backgrounds to pursue professional careers.