Murthy Pays It Forward: IIMA Students Now Have a New Angel Investor in the Classroom

 

Infosys co-founder Narayana Murthy has established a trailblazing 20-year merit scholarship at the Indian Institute of Management Ahmedabad (IIMA) in memory of the institution's first teacher Professor Jaswant G. Krishnayya. Viraj Modi of the 2024–26 batch is the first beneficiary of the highly sought-after scholarship, which was conferred on him at an event in the RJM Auditorium on June 27, 2025.

 

Key Highlights:

 

•⁠  ⁠Full-Fee, Inflation-Indexed Support: The 'Professor Jaswant G. Krishnayya Merit Scholarship' covers tuition fees, hostel charges, mess fees, and course materials—costs that amount to over ₹36 lakh in two years. The award is inflation-indexed to ensure it remains fully effective despite fee increases.

 

•⁠  ⁠Pure Merit Selection: Awarded annually to the student with the highest cumulative grade point average (CGAP) upon completion of the first year of IIMA's flagship Post Graduate Programme (PGP), with no income or background restrictions.

 

•⁠  ⁠Long-Term Commitment: Murthy, through his family office Catamaran Ventures LLP, has pledged ₹12 crore for 20 years, one of the largest philanthropic gifts to Indian management education.

 

•⁠  ⁠Respecting Legacy: Named after Professor Krishnayya, the first faculty member at IIMA to teach computer science and systems thinking, the award is meant as an acknowledgment of Murthy's regard for his mentor.

 

Prospects: The scheme sets the bar high for merit scholarship in India and challenges the next generation of students to excel in learning and acquire the values of intellectual discipline, inquisitiveness, and humility. It recognizes the tradition of philanthropy and mentoring in building the next generation of leaders.

 

Sources: IIMA, Businesstoday, Rediff