mPokket to provide scholarships to 5000 more college students across India

·         Initiative to financially empower college students across the nation

·         The scholarship is open to all college students, irrespective of whether they are mPokket users or not

National, 26 October 2021 (GNI):  Continuing with its vision to empower the youth, mPokket is inviting applicants for its digital scholarships. Launched earlier this year, the scholarship is aimed at helping students manage financial challenges during these troubled times. Open to all college students across India, more than 1200 students have already benefitted from the scholarship program, which now aims to reach out to an additional 5000 students over the next 12 months.

Founded in 2016 by Gaurav Jalan, mPokket had launched the scholarship to bridge the financial gap many students faced in meeting academic or allied expenses. The Company has announced the scholarship program as part of its CSR initiative to boost financial inclusion. mPokket’s mission is to improve the lives of underserved new-to-credit individuals who lack access to credit from traditional financial institutions, providing instant access to cash for urgent requirements.

Discussing the initiative, Gaurav Jalan, CEO & Founder – mPokket, said: “At mPokket, we have always believed in empowering the youth. Therefore, we are reaching out to colleges students across all corners of India. I am delighted to share that the scholarship is open to all college students pan-India, irrespective of the course they have enrolled in and whether they are mPokket users or not. We hope our scholarship will help students in India defray at least some of their education-related expenses.”

Being a completely digital offering, students do not need to submit any hard copies of documents. They simply have to upload proof of their latest college mark sheet, tuition fee statement and any other past scholarship certificate (if applicable). The student’s faculty member will then need to upload a recommendation letter on his/her behalf. After verification, the scholarship amount will be deposited in the students’ bank account. They will also receive a digital scholarship certificate, stated in the press release.

About mPokket is an Instant Loan App providing loans to eligible college students and young working
professionals. Founded by Gaurav Jalan in 2016, the Company has grown today to serve more than 1.4 million borrowers.  

Borrowers can avail loans ranging from Rs500 to Rs30,000. After an initial KYC process, the approved amount is instantly credited either to their bank account within minutes. mPokket’s business model is similar to credit card lending but focuses on individuals that are ineligible to borrow from traditional lenders yet need loans to meet urgent needs. The mobile application seamlessly delivers credit anytime anywhere.ends