There is complete waiver of Tuition fee for FPM students. The students, however, will be required to pay hostel rent, and mess charges (at actuals) as decided by the Hostel Administration of IIFM from time to time.
An amount of Rs. 50,000/- (refundable) to be deposited at the time of joining the course.
A.) Monthly Fellowship
All selected students (non-sponsored) will get a monthly fellowship of Rs. 16,000 during the first two years, which is incremented to Rs. 19,000 per month for the third and fourth years of the programme. PGDFM graduates from IIFM selected for the fellow programme get financial assistance and contingency grant for three years.
This assistance is not available to the sponsored candidates. In case of candidates who get a salary from a sponsor, 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, Xeroxing expenses, academic tour and travels (including attending conferences other than two National and one International conference, registration fees for the conferences) and boarding and lodging expenses as per rules. The unspent amount of the contingency grant in any year may be carried forward until the end of the fourth year.
The students cannot take any other financial benefits from IIFM, like from research projects from centres of the IIFM or from outside.
The student is required to sign a surety bond and agreement 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.
As per Government of India requirement, 27% of the seats are reserved for Other Backward Classes (OBC) candidates belonging to the “Non-Creamy” layer (NC-OBC), 15% for Scheduled Caste (SC), 7.5% for Scheduled Tribes (ST) candidates and 5% for Persons with Benchmark Disabilities (PWD).
As defined in The Rights of Persons with Disabilities Act, 2016 (RPwD) Act 2016), “person with benchmark disability” means a person with not less than forty percent (40%) of a specified disability where specified disability has not been defined in measureable terms, as certified by the certifying authority.
For the purpose of being considered for reservations, the applicable Central Government list as on the last date of submission of application of the FPM 2022 shall be binding. No subsequent changes will be effective for the subsequent selection process of IIFM Bhopal.
The candidates claiming admissions in the reserved categories need to also note the eligibility requirements carefully before applying. It should be noted that while it is the endeavour of IIFM that the candidates belonging to SC/ST/PWD/NC-OBC categories join the programme, they have to meet the minimum eligibility criteria and a certain minimum level of performance to be considered for the admission process.