Chairs/ scholarships / awards
The establishment of the Chair is expected to:
- promote excellence and leadership in teaching, research and development in the field of Science, Engineering, Management, Humanities or Social Sciences, and
- to facilitate wider and deeper interaction between the industry in general (and the Donor, in particular) and IITD faculty and students in general (and the incumbent appointed against the Chair, in particular).
Any faculty member with a track record of an outstanding teacher or researcher would be eligible to be considered for “appointment” against the Chair. If the Chair is established in a specific discipline, area or expertise, then only those who possess the requisite expertise are eligible.
Donors have the right to pick a suitable name for the Chair they endow. The faculty member who has been appointed against the Chair will be called “XXX Chair Professor”. From the endowment of the Chair, IITD will make available to the incumbent an annual grant whose amount (currently 5 Lakhs per annum) and usage will be in accordance with prevailing guidelines of the Board of Governors.
A single Standing Selection Committee chaired by Director, IITD, and consisting of eminent people representing all major disciplines meets twice in a year and considers the cases of appointment of all Chair Professors in the Institute. In addition, for each individual Chair, a nominee of the donor is invited at the time of taking a decision regarding the concerned chair. The appointment against the Chair is nominally made for a period of five years but continuation into the fourth and fifth years is subject to a review at the end of the third year.
Donors can set up a Chair by providing a one time grant or annual grants. The funds provided are invested by IITD in accordance with its rules/regulations so as to earn interest or dividends payable at least once each year. A Management Committee, with Director IITD as Chairman, two faculty members from IITD, and a representative of the Donor will periodically review the functioning of the Chair and utilization of funds. Excess of earnings over expenditure, if any, are credited back to the fund. In the case of a shortfall in the earnings, IITD may approach the Donor for enhancing the endowment or may reduce the duration of the Chair after consulting the donor.
Students from economically disadvantaged households (currently defined as annual family income in the range of Rs 5 Lakh to Rs. 9 Lakh) are offered scholarships which is usually 1/2 the annual tuition fees (the 2020 tuition fees for undergraduate students is roughly 2Lakhs per annum). Students whose families have income less than 5Lakhs per annum are not required to pay any tuition fees.
Selection would be based on annual family income and the applicant with the lowest annual family income would be awarded the Scholarship. The donor can also advise a merit criterion for the award of the scholarship. Once selected a student will continue to receive the scholarship till such time he/she continues to fulfill the merit criteria and the annual family income meets the eligibility criteria. In the instance of original awardee failing to continue to qualify for the scholarship in any semester in an Academic Year, the scholarship is re-advertised to other students in the same academic year and semester as of the original awardee.
All selections will be done and the awardee will be governed by the Institute norms/rules including those pertaining to the maximum limit on Scholarship/financial assistance admissible to a student in the Institute.
The Institute will invest the amount contributed by the donor in a suitable manner and the responsibility for the realization of interest will rest with the Institute. The interest earned will be utilized for the purpose of Scholarship. In case the Interest earned in a year is more than the amount required for the Scholarship for that year, the excess amount will be added back to the corpus. The donor may also increase the endowment suitably to enhance the value of Scholarship. Donors will have the right to decide on a name for the scholarship and they/their appointee will have the right to meet with each recipient of the Scholarship.
A contribution of Rs 20 Lakhs can be used to setup an endowment fund which will run the scholarship in perpetuity. Alternatively, a donor can contribute Rs 4 lakhs initially and Rs 1 lakh per annum to run a scholarship for the period they intend. The donor can choose an appropriate name for the scholarship.
Awards can be instituted by Alums, Corporates, and Philanthropists to recognize the scholastic and extracurricular achievements of our students and to provide them encouragement.
Donors have the right to pick a suitable name and to decide on the selection and eligibility criterion for the Award they endow. The award amount too can be decide by the donor but should be at least Rs 25,000. The Institute will invest the amount contributed by the donor in a suitable manner and the responsibility for the realization of interest will rest with the Institute. The interest earned will be utilized for the purpose of the Award. In case the Interest earned in a year is more than the amount required for the award for that year, the excess amount will be added back to the corpus. The donor may also increase the endowment suitably to enhance the value of the Award. Donors will also have the right to meet with each recipient of the Award.