Stanford Business School Selects First Reliance Dhirubhai Fellows to Receive Full Financial Support for MBA Study

STANFORD, Calif.--(BUSINESS WIRE)--Five compelling individuals from diverse regions throughout India have been selected as the first-ever class of Reliance Dhirubhai Fellows. They will receive full financial support during their two-year MBA studies at the Stanford Graduate School of Business, starting in September 2009.

“Selected from more than 1,500 applicants, the accomplishments of this first class of Fellows speak to the excellent caliber of Reliance Dhirubhai Fellowship applications, and we look forward to the diversity of viewpoints, experiences, and backgrounds they will bring to the classroom in the fall.”

The Reliance Dhirubhai Fellowship was established in 2008 to support promising Indian students with financial need who earn admission to the Stanford MBA Program based on merit, and who are committed to contributing to the development of India. The Fellowship program, made possible through a generous gift from Reliance Industries Limited under the leadership of its chairman, Stanford Business School alumnus Mukesh Ambani, will cover such costs as tuition, course-related fees, living stipend, and travel allowance—an estimated total value of $170,000 per Fellow.

Honored at a private reception at Reliance Industries offices in Mumbai April 17, the 2009 Reliance Dhirubhai Fellows are Nitish Bandi, Namita Dalmia, Arvind Iyengar, Varun Jain, and Aditi Pany. Commenting on the initiative, P.M.S. Prasad, President and CEO of the petroleum business of Reliance Industries Ltd., said, “We take pride in supporting these outstanding young minds from India who will be able to learn and grow as they engage on the global level. The Reliance Dhirubhai Fellowship is an integral part of our continued endeavor to support education-based initiatives across various levels. We wish the youngsters the very best in their academic pursuits and also all success in their future endeavors.”

“We are grateful to have had a tremendous response to our call for applications in this inaugural year of the fellowship,” said Robert L. Joss, Dean of the Stanford Graduate School of Business. “Selected from more than 1,500 applicants, the accomplishments of this first class of Fellows speak to the excellent caliber of Reliance Dhirubhai Fellowship applications, and we look forward to the diversity of viewpoints, experiences, and backgrounds they will bring to the classroom in the fall.”

Background of the Students:

Nitish Bandi describes himself as a small-town boy from a farming family in Vijayawada, in India’s southern state of Andhra Pradesh. Now living in Bhopal in central India, he is vice president of operations at Big India Farms, a food supply chain company serving central and western India. He studied agricultural and food engineering at IIT Kharagpur, receiving both bachelor’s and master’s degrees in technology in 2005. Among many achievements, Bandi received a merit certificate from the Central Board of Secondary Education for outstanding performance in mathematics, and was honored with various awards for his volunteer work in the area of the welfare of underprivileged children. An avid basketball player, the 6-foot-2-inch Bandi played throughout college, and shares his love of the game with those he encounters, from villagers back home to underprivileged children.

Namita Dalmia is a research associate with the National Knowledge Commission, an advisory body to the Prime Minister of India. She has worked on various areas including vocational education, engineering education, and entrepreneurship. Passionate about making a difference in the lives of the masses, she cofounded an NGO working for underprivileged children, as well as a social venture that aims to bring technology to social sector organizations. Dalmia was also awarded the Certificate of Excellence by the National Service Scheme in 2006. Consistently ranked among the top in her classes, she received her dual bachelor’s and master’s degrees in 2006 at IIT Bombay, where she majored in electrical engineering. An avid outdoorswoman who hails from Faridabad near Delhi in northern India, she completed a 10-day trek in the Himalayas in May 2008.

Arvind Iyengar fulfilled a childhood dream to pursue a career in sports when he competed against 10,000 participants and finished in second place on the reality show “Dream Job,” landing a sports reporting stint with ESPNSTAR Singapore/India. Iyengar received his undergraduate degree in mechanical engineering from IIT Bombay in 2006. While a student he enjoyed taking part in cultural competitions, winning over 100 inter-collegiate events in debate, dramatics, word games, and other literary contests. Prior to his star turn on TV, he worked as a strategic consultant at McKinsey & Company for two years. At the intersection of his interests in sports and strategy, he created a computer-based cricket strategy game, simulating more than 1,000 games. He is currently a freelance sports writer living in Bangalore.

Varun Jain grew up in Hardwar on the banks of the Ganges River in northern India’s Uttarakhand. Currently finishing his undergraduate studies in electrical engineering at IIT Kanpur, Jain was among 150 students around the world honored with the Goldman Sachs Global Leaders Award in 2007 for demonstrated leadership potential and academic achievement. In his junior year, he took leadership of the college magazine, becoming editor of Meander. A voracious reader driven by a desire to help the underprivileged, Jain volunteered with a student-led initiative at IIT Kanpur working toward the education of underprivileged children.

Aditi Pany was the first woman elected president of the Students’ Union at Birla Institute of Technology and Science, where she completed both a bachelor of engineering degree in electrical and electronics, and a Master of Science degree in economics in 2005. As president, she launched several new initiatives, including the formation of the Center for Entrepreneurial Leadership. Based in New Delhi, Pany began her career at the social enterprise TARAhaat, developing IT-enabled services—such as skills development programs—for rural communities. Currently a program associate at Ashoka: Innovators for the Public, she facilitates business-social partnerships to provide housing and healthcare to low-income communities. She credits her upbringing and experiences in Bhubaneswar in the coastal state of Orissa, home to some of India’s finest artisans, for her aspiration to promote India’s rich tradition of handlooms and handicrafts that are intricately linked with its diverse culture, people, and natural environment.

Applications for the 2012 class of Fellows are now being accepted, and will be available online, free of charge, at www.gsb.stanford.edu/mba/reliance. All applications must be submitted by 5:00 p.m. Pacific Daylight Time in the U.S. on Monday, June 1, 2009 (5:30 a.m. on Tuesday, 2 June 2009, in India). For more information on selection criteria and how to apply, visit: www.gsb.stanford.edu/mba/reliance

About Stanford Graduate School of Business

The Stanford Graduate School of Business was founded in 1925 at the urging of Stanford alumnus Herbert Hoover, who later became president of the United States. Stanford is known globally as a center for innovation and collaboration, and for the excellence of its faculty, students, research, and academic offerings. The Business School has produced three Nobel laureates since 1990. Stanford’s achievements are grounded in world-class research and the relevance of best practice. Located in Silicon Valley, Stanford University and the Business School have a strong history and culture of entrepreneurial thinking.

Today, the Business School enrolls approximately 740 students in the two-year full-time MBA Program, 100 candidates in the PhD Program, 60 mid-career executives in the 10-month Stanford Sloan Master’s Program, and more than 2,000 participants in Executive Education programs designed to enhance executives’ professional capabilities. The faculty numbers approximately 140 men and women, including visiting professors. The Stanford MBA Program is the most selective MBA Program in the United States, offering admission to only 7 percent of applicants in a typical year.

About Reliance Industries Limited

Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with a turnover of Rs. 1,39,269 crore (US$ 34.7 billion), cash profit of Rs. 25,205 crore (US$ 6.3 billion), net profit (excluding exceptional income) of Rs. 15,261 crore (US$ 3.8 billion) and net worth of Rs. 81,449 crore (US$ 20.3 billion) as of March 31, 2008.

RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 103rd among the world's Top 200 companies in terms of profits. RIL is among the 30 fastest climbers ranked by Fortune. RIL features in the Forbes Global list of the world's 400 best big companies and in the FT Global 500 list of the world's largest companies. RIL ranks among the 'World’s 25 Most Innovative Companies' as per a list compiled by the US publication, Business Week, in collaboration with the Boston Consulting Group.