NR Narayana Murthy establishes a 20-year, inflation-adjusted scholarship at IIM Ahmedabad

Infosys founder NR Narayana Murthy has established an inflation-adjusted, full-fee scholarship, which will cover the recipients’ annual tuition fee, hostel expenses, course material and mess charges for the two-year Post Graduate Programme (PGP) at the Indian Institute of Management Ahmedabad (IIMA).

He entered into a memorandum of understanding with the institute for the purpose, the IIMA said. The scholarship, named ‘Professor Jaswant G Krishnayya Merit Scholarship,’ will be awarded annually to an eligible student who achieves the highest CGPA in the first year of the PGP programme. Murthy has committed to funding the scholarship for a period of 20 years. The aggregate payout for the scholarship over 20 years is estimated at Rs 12 crore, Catamaran Ventures LLP, the family office of Narayana Murthy, said in a statement.

“Narayana Murthy’s bond with IIMA began in 1969 as Chief Systems Programmer and deepened further when he served as Chairman of the Institute from 2002 to 2007. This scholarship reflects his continued commitment to IIMA’s mission and to the transformative power of education,” said Pankaj Patel, chairperson, IIMA Board of Governors, and chairman, Zydus Lifesciences.

Bharat Bhasker, director, IIMA, said, “This generous scholarship is a celebration of excellence, mentorship and impact. We are deeply grateful to Narayana Murthy for honouring Professor Krishnayya’s legacy in such a meaningful way."

Murthy said, “This scholarship also serves as a testament to Professor Krishnayya’s pivotal role in shaping my early life and career.”

Catamaran Ventures further said, “The IIMA Endowment Fund, the Institute’s unified fundraising and philanthropic arm for all donations from alumni as well as corporate and CSR (corporate social responsibility) partners, played a facilitative role in shaping this partnership.”