The School of Management Sciences (SMS) in Varanasi, Uttar Pradesh, is an autonomous institution established in 1995 that is recognized by the University Grants Commission (UGC) and has been bestowed 'A' Grade by the National Assessment and Accreditation Council (NAAC). To aid its meritorious students, SMS Varanasi extends a gamut of scholarships, encompassing the Dr. Sarvepalli Radhakrishnan Scholarship for new MBA, MCA & M.Com entrants, Babu Nageshwar Singh Scholarships for Post Graduation students, Merit Scholarship for fresh Undergraduate enrollees, and special awards for existing students. Apart from these, scholarship schemes introduced by the Uttar Pradesh state government are also applicable for eligible students.
SMS-Dr. Sarvepalli Radhakrishnan Scholarship
The Dr. Sarvepalli Radhakrishnan Scholarship, designed for newcomers joining the MBA, MCA & M.Com courses, provides varying financial relief based on the students' achieved percentage in their graduation, as detailed below.
| Percentage obtained in Graduation | Slab of Merit Scholarship applicable in MBA, MCA & M.Com Course |
| Throughout 60% and above (Xth, XIIth & Graduation) | 15% of the Fee in Each Semester |
| 60% above in Graduation | 10% of the Fee in Each Semester |
SMS-Babu Nageshwar Singh Scholarship
The Babu Nageshwar Singh Scholarship is dedicated to undergraduate students (BBA, BCA, B.Com/ BA(Hons.) MC, B.Com(Hons.), & B.Tech. Programmes) of SMS who wish to pursue Post-Graduate Courses at the School of Management Sciences, Varanasi. The scholarship amount varies based on the overall percentage of marks attained by the students as shown below.
| Overall percentage of Marks attained by students in BBA/ BCA / B.Com/ BA(H)MC/ B.Com(H) Courses at SMS | Slab of Merit scholarship applicable in MBA/ MCA/ M.Com. Courses run at SMS |
| 60% and above | 15% of the Fee in Each Semester |
SMS-Sports Scholarship
SMS Varanasi also offers a Sports Scholarship, where the quantum of the scholarship is determined by the level at which the student has represented in sports, as outlined below.
| Level | Slab of Merit Scholarship |
| University | 10% of First Year Fee |
| State | 15% of First Year Fee |
| National | 20% of First Year Fee |
| International | 25% of First Year Fee |
SMS-Merit Scholarship for New Admissions in Undergraduate Courses
The institute offers a merit-based scholarship for fresh admissions in BBA, BCA, B.Com, B.Com(Hons) and B.A.(Hons) Mass Comm. Courses. The eligibility and scholarship details are enumerated below.
| Overall Percentage of Marks Attained by Student in class XIIth | Slab of Merit Scholarship |
| 90% and above | 7.5% of Fee in Each Semester |
| 70% and above | 5% of Fee in Each Semester |
SMS-Scholarship Schemes & Awards for Existing Students
Existing students at SMS Varanasi are also rewarded for their academic accomplishments through the Prof. Mukund Lal Scholarship and the Smt. Virendra Kumari Memorial Gold Medal, the details of which are given below.
| Rank | Award |
| Topper | INR 3,000 |
| 2nd Rank Holder | INR 2,500 |
| 3rd Rank Holder | INR 2,000 |
| Rank Holder 4-10 | INR 1,000 |
SMS-Scholarship by UP State Government
The Uttar Pradesh government introduces scholarships and fee reimbursements for students from economically weaker sections whose parents' annual income from all sources does not exceed INR 2,00,000. This initiative, supported by Samaj Kalyan Vibhag, U. P. Government, also mandates that students must maintain a commendable academic record.
