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

Note:

  1. Notified last date of admission is July 1, 2021
  2.  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
  3. 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.
  4.  Living fee will be refunded after deducting the applicable amount based on occupancy in the campus.
  5.  Applicants who wish to withdraw should send the duly filled-in and signed Withdrawal / Refund Request Form (click here to download the form) along with a scanned copy of cancelled cheque to gsb.mbaadmissions@krea.edu.in. The date of receipt of mail, with the filled-in signed form and cancelled cheque by the Admissions office, will be considered for the calculation of refundable amount. The amount shall be refunded to the eligible student within fifteen working days from the date of receiving the mail.