PARAS Scholarship Program 2023-24

The PARAS Scholarship Program 2023-24 launched by TATA AIA Life Insurance Company Limited is aimed at providing financial assistance to underprivileged students to help them to complete their education. Through this CSR initiative, students enrolled in the first year of UG, PG, or doctoral courses in various fields can receive a one-time scholarship amount of INR 25000. Buddy4Study has been appointed as the implementation partner for this scholarship program.

Tata AIA Life Insurance Company Limited (Tata AIA) has been formed as part of a partnership deal between the AIA Group Limited and Tata Sons Private Limited. The combination of Tata’s domineering position in India and AIA’s recognition as one of India’s prominent life insurance groups makes TATA AIA Life a name to reckon with. TATA AIA Life focuses on various CSR initiatives to drive positive change in society while partaking in the advancement of the nation process.

PARAS Scholarship Program 2023-24: Eligibility Criteria

Read on for information on the eligibility norms for this scholarship scheme:

  • Students pursuing the first year of PG courses in the fields of Banking, Accounting & Finance, Commerce, Data, Science, Commerce, Management, Economics, Risk Management, Statistics, and other fields can apply for this scholarship programme (for Postgraduate Students)
  • Students admitted in the first year of PG Diploma courses in the aforementioned fields are eligible to apply (for PG Diploma Students)
  • Students pursuing the first year of UG programs in the given fields are invited to apply (for Undergraduate Students) 
  • The applicant should have scored minimum 50% marks in the past qualifying exam
  • The annual family income of the student does not have to exceed INR 5 lakh from all sources
  • Candidates from all over the country are invited to apply


  • The kin of TATA AIA and Buddy4Study employees are not invited to apply
  • Students from the marginalized sections of society hailing from Scheduled Tribes (STs), Scheduled Castes (SCs), females, and physically challenged students will get preference

PARAS Scholarship Program 2023-24: Rewards

The rewards for the different categories of students are studied herein:

For Undergraduate students: INR 15000 per annum

For Postgraduate students: INR 25000 per annum

For PG Diploma students: INR 15000 per annum

PARAS Scholarship Program 2023-24: List of Compulsory Documents

The prescribed list of documents is to be submitted:

  • Student’s passport-sized photograph
  • Student’s attested copies of mark sheets of the preceding qualifying exam
  • Copy of College / University Admission Proof, including Institution ID Card or Admission Letter
  • Candidate’s Identity proof, which includes PAN Card, Driving License, or Aadhaar Card
  • Applicant’s family annual income proof such as salary slips, ITR, or income certificate as received by a competent government authority
  • Attested copy of student’s Caste Certificate as issued by the concerned government authority (if applicable)
  • Applicant’s bank account info for funds transfer
  • Candidate’s Statement of Purpose (SOP)

PARAS Scholarship Program 2023-24: Steps to Apply

The application process for the PARAS Scholarship Programme 2023-24 is detailed herein:

  • In the first step, you have to go to the official web portal and tap the relevant “Apply Now” tab, depending on whether you are an undergraduate, postgraduate, or PG Diploma student 
  • If you have not registered, you have to register yourself with your mobile number / email address or Gmail account
  • Upon registration, the system generates your login credentials – “Application ID” and “Password”
  • Use your login details to sign in to your account and access the “PARAS Scholarship Program 2023-24” online application page
  • Go on to tap the “Start Application” link, at which point the online application form appears on the screen and you have to input the required information in the form
  • As your next step, you are required to submit the mandatory documents
  • Now, accept the “Terms & Conditions”, following which you should click the “Preview” tab and review your application to find any errors
  • Make the required corrections and then submit your application via the “Submit” tab

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