Refund policy

Refund policy

IFMR GSB Krea University’s refund policy conforms to the norms set by UGC and is in accordance with the University Grants Commission (UGC) Notification on “UGC Notification Reg.: Refund of Fees and Non-Retention of Original Certificates”, which was published on their website on November 2, 2018.please click here.

S.No.	Percentage of refund of fees	Point of time when notice of withdrawal of admission is received by IFMR GSB	Withdrawal request to be received on or before
1	100%	15 days or more before the formally-notified last date of admission	17 June 2021
2	90%	Less than 15 days before the formally- notified last date of admission	18 June – 01 July 2021
3	80%	15 days or less after the formally-notified last date of admission	02 July – 16 July 2021
4	50%	30 days or less, but more than 15 days, after formally-notified last date of admission	17 July – 01 August 2021
5	0%	More than 30 days after formally- notified last date of admission	02 August 2021

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Note:

Notified last date of admission is July 1, 2021
An amount of 5% of the fees paid by the student subject to a maximum of INR 5,000/- towards processing charges will be deducted from the refundable amount before making the refund wherever applicable. This is applicable only to applicants in the category of S.No.1 in the above table
Caution Deposit of INR 25,000/- will be refunded at the time of graduation from IFMR GSB or withdrawal of admission, subject to recoveries, if any, pending from the student.
Living fee will be refunded after deducting the applicable amount based on occupancy in the campus.
Applicants who wish to withdraw should raise their refund request in the Query Manager in the admissions portal under the category “Payment Query-Refund”. After receiving the refund request through Query Manager, the Refund Request Form will be opened by the Admissions Office to fill in the bank account and other required details. The date of submitting the filled-in Refund Request Form in the admissions portal will be considered for the calculation of refundable amount. The amount shall be refunded to the eligible candidate within fifteen working days from the date of receiving the filled-in form.