An alumnus of the celebrated London Business School, Kumar Mangalam Birla has created a fifteen million pound endowed scholarship program to honor the legacy of his past due to grandfather and veteran industrialist BK Birla, the Aditya Birla Group introduced on Thursday.

The scholarship program is the biggest endowed scholarship gift to a European business faculty.

An endowed scholarship distinguishes itself from different one-time donations in a manner that the money given to the academic institution is invested and by no means withdrawn with handiest the hobby earned used to fund scholarships.

The program will help the education of ten complete-time MBA applicants of the B-faculty every year in perpetuity together with five Indian college students and five students from the relaxation of the sector. Performers belonging to the pinnacle five% ranking in a category might be eligible for the scholarship with a view to being applicable to college students starting their stint at the college from the fall of this 12 months.

The Aditya BirlaNSE -zero.80 % Group chairman said that the ‘BK Scholars Programme’ “meditated his grandfather’s generosity of spirit and dedication to supporting the continuing boom of rising commercial enterprise leaders”.

“I am extraordinarily proud to honor my grandfather’s legacy and create something enduring through this landmark worldwide pupils program at LBS,” Birla stated in a press observe. “Through this program, we appearance to build a diverse and vibrant community of next-generation leaders who are devoted to the beliefs of integrity, willpower, and service to humanity. The very values epitomized by using my grandfather,” he stated.

Aged ninety-eight, Basant Kumar Birla, chairman of Century Textiles and Industries, exceeded away on July three. During his lifetime he had also been associated with many other academic trusts and establishments which includes the Birla Institute of Technology and Science, Pilani, the BK Birla Centre of Education in Pune and the Birla Institute of Management Technology in Delhi with over 50,000 college students yearly studying in establishments mounted via him.

“It is an wonderful present in an effort to honor B.K. Birla’s reminiscence with this prestigious scholars program,” François Ortalo-Magné, dean of LBS said.

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