AMM Arunachalam-Lakshmi Achi Overseas Scholarship

A.M.M. Murugappa Chettiar Centenary Scholarship

A.M.M.Murugappa Chettiar Centenary Scholarship & 
MR.Valliammai Achi Centenary Fund

Dewan Bahadur Murugappa
Chettiar Scholarship

A M M Arunachalam-Lakshmi Achi Overseas Scholarship

1. The name of the Scholarship shall be A M M Arunachalam - Lakshmi Achi  Overseas Scholarship.

2. The scholarship is awarded for Post Graduate studies in Engineering, Science, Humanities, Medicine and Management.

3. The maximum amount of Scholarship shall not exceed Rs.1,00,000/- which shall be given as a Loan at the discretion of the Trustees. Additional loan, up to Rs.1,00,000/- may be granted for the second year of studies, at the discretion of the Trustees.

4. The actual amount of Scholarship shall be determined by taking into account likely expenditure for studies including travel expenses and candidate's ability to meet a part of this expenditure from any other source. The loan request for second year will be considered on the basis of resources available to the candidates.

5. The repayment of the loan shall be

   1. If the candidate returns to India after completing the Course on the basis of which the loan was given, 1/5 of the yearly income of the candidate, if the average income is less than Rs.6,000/- per month and 1/4th of the yearly income, if the candidate's income is above Rs.6,000/- per month.

   2. If the candidate does not return to India, the amount is repayable within 24 months from the date of completion of the Course, on the basis of which loan was given with an interest of 10% per annum from the date the loan was granted.

6. The candidate is required to take an endowment/life insurance policy for an amount not less than the amount of the loan and shall assign this policy to the AMM Educational Foundation. After the loan is fully repaid, the Foundation shall re-assign this policy in favour of the candidate.

7. The invitation for application will be made through advertisement in leading newspapers in the country in the month of April every year. The applications will be initially screened and about 20 candidates will be shortlisted for interview. The shortlisted candidates will be interviewed by a Selection Committee which will comprise of six members.

   1. Two members will be nominated from AMM Educational Foundation.

   2. Four eminent persons in the field of Humanities, Science, Engineering and Medicine will be drawn as Committee members.

8. The Selection Committee will assign marks to the candidates interviewed and this list will be sent to the Trustees of AMM Educational Foundation. The final selection will be made by the Trustees keeping in mind (a) the merit, based on the marks awarded by the Selection Committee, (b) the type of course selected by the candidate and (c) the need for Scholarship based on the candidate's ability to repay etc.

9. This selection process will be completed and successful candidates will be advised by July 31 each year.

10. The candidate will have to sign an agreement at the time of disbursement of the loan amount. The agreement will broadly cover the conditions under which the scholarship is being paid and will include a clause relating to the repayment and continuation of studies.

11. Decision of the Trustees will be final in all aspects pertaining to the scholarship.

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