M-Scholar 2020 CSR activities

Award winning Magma M-Scholar 2020 programme enters 6th year

Girls outshine Boys in Magma M-Scholar 2020 Merit list

Mumbai, 4 January 2021:

Kolkata based Magma Foundation has announced the Merit list for Magma M Scholar 2020. Magma has been awarding “M-Scholar” to meritorious students from underprivileged families since 2015 and has already created an alumni base of 400. With the new list, the number of beneficiaries will touch 500.

Highlights of Magma M Scholar 2020:-

  1. Total Enquirers – approx. 1200
  2. Applications received online – 825
  3. Shortlisted candidates – 108 (8 wait listed) from 12 states
  4. Zonal Break up of top 100 (East – 51, West – 2, North -5, South – 42)
  5. Break up of Top 100 (Male 48, Female 52)
  6. Course break up of Top 100 (BA 33, B Com 23, BSc 29, Engineering 14, Others 1)
  7. Score card of Top 100 (Above 96% – 55; Below 95% – 45)
  8. Profile of students selected – Few Board Toppers, mostly from families with MHI of INR 3500/ – INR 6000/. Family background – Parents work as daily wager, van driver, mason/ painter, cycle repair mechanic, mobile repair person, tailor, farmer etc.

Announcing the list, Mr Kaushik Sinha, Head – CSR, Magma Fincorp Ltd. said, “Quality education is the backbone of a successful nation. Magma through investments in M Scholar project which offers financial support to meritorious students hailing from poor economic background is keeping following the motto of ‘investing in the smallest dream’.  Around 50% children between the age group of 15-18 years drop out of schools and our focus is to bring them back into mainstream education. Magma M Scholar is instrumental in offering bright future to 400 students, many of whom are already charted their professional careers having secured lucrative corporate assignments. We will continue to play our role in the nation’s advancement. We hope all our alumni will become achievers, thinkers, innovators and pronounced leaders in days to come”.


About Magma Fincorp CSR Initiatives:

Magma’s key CSR initiatives are undertaken with a long-term view and focus on ‘Rurban India’. We take initiatives that are sustainable and have long-term benefits to the society at large. We endeavor to contribute in the areas of Education, Health and Environmental Sustainability to help the underprivileged and underserved for a greater good to the society.

Below are brief notes on our ongoing CSR activities, namely Magma Highway Heroes, M-Scholar, Magma Annamrita and M-Care:

Contact for Media Queries
Diana Monteiro, Corporate Communications, Magma Fincorp Ltd.

Email: diana.monteiro@magma.co.in


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