Birla group announces 15-m pound grant for LBS

In the largest endowment for a European B-school, the Aditya Birla Group has announced a 15 million-pound grant for an MBA programme at the London Business School. The BK Birla Scholars Programme aims to support education of 10 full-time MBA students every year in perpetuity, the group said in a statement Thursday.

The announcement comes within a week of the demise of Birla's grandfather BK Birla due to old age. The London Business School is the alma mater of the group chairman Kumarmangalam Birla.

The group said the late Birla considered access to higher education as a fundamental right for all. The programme envisions supporting five students from the country and an equal number from elsewhere.

Birla said the scholarship as an effort to honour his grandfather's legacy through an enduring programme. "Through this programme, we look to build a diverse and vibrant community of next generation leaders who are committed to the ideals of integrity, dedication and service to the humanity," he was quoted as saying.

Over 50,000 students study at institutions established by the later Birla, including the top-notch Birla Institute of Technology & Science at Pilani and its other campuses, the BK Birla Centre of Education in Pune, and the Birla Institute of Management Technology in New Delhi..