Narayana Murthy establishes 20-year inflation-adjusted scholarship at IIMA in honour of Prof Krishnayya
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, in a statement issued on Tuesday, said, 'I am pleased to establish this scholarship at IIMA in honour of Prof Jaswant G Krishnayya's enduring legacy and significant contributions to IIMA. This scholarship also serves as a testament to Prof Krishnayya's pivotal role in shaping my early life and career. It is my hope that this scholarship will inspire students to strive for excellence and make a positive impact on the world.'
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.
Pankaj Patel, Chairperson, IIMA Board of Governors, and Chairman of Zydus Lifesciences, remarked, 'Narayana Murthy's bond with IIMA began in 1969 as Chief Systems Programmer and deepened further when he served as the 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. We are honoured by his gesture, which pays tribute to a respected faculty member and supports future generations of leaders.'
In a statement issued by the institute, Prof 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 Prof Krishnayya's legacy in such a meaningful way. It reflects IIMA's vision of enabling merit-based access to management education, while paying tribute to those who helped build this Institute into what it is today.'
The IIMA Endowment Fund (IIMAEF), the institute's unified fundraising and philanthropic arm for all donations from alumni as well as corporate and CSR partners, is learnt to have played a facilitative role in shaping this partnership.
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