A) Monthly Fellowship
Each student would be given a monthly fellowship of Rs. 16,000/- in first and second year , Rs. 19,000/- in third and fourth year and for extended one year (if applicable) during the program.
This assistance is not available to the sponsored candidates. In case of candidates who will be getting salary from sponsorer, if the salary is less than the prescribed monthly fellowship, then the difference can be made good from fellowship provisions.
B) Contingency Grant
The students would also be provided (on reimbursable basis) with a contingency grant up to Rs. 35,000/- per year for all the four years (three years for IIFM graduates) for purchasing relevant books, journals, stationery, computer accessories, academic tour and travels, photocopying expenses etc.
The unspent amount of the contingency grant in any year may be carried forward till the end of the fourth year.
The students cannot take any other financial benefits from IIFM, like research projects or centers of the IIFM or from outside.
The student is required to sign a bond with the IIFM that if he/she discontinues the Fellow programme for any reason, then the entire amount of fellowship and contingency amount received shall be refunded by them.
Hostel and Alumni Membership Fees
The students have to pay hostel rent (if hostel facility is provided), mess charges and alumni membership as decided by the IIFM from time to time. The mess charges will be on actual basis. Presently, the mess is run by the students themselves.