Prudential ICICI Mutual Fund on Thursday honoured 16 students selected on academic merit under the Child Care Plan Young Students Scholarships in Mumbai.

The awards presented to students, who came to Mumbai from Bangalore, Delhi, Chennai, Goa, Bhubaneswar, Lucknow and Pune, by A P Kurian, chairman, Association of Mutual Funds in India.

The list of awardees included aspiring doctors, engineers, genetic scientists and dentists.

Shailendra Bhandari, managing director, PruICICI AMC, speaking on the occasion, stated: "The Prudential ICICI Young Students Scholarship Award is an indicator of our commitment to society and especially the development of children. Today's children are tomorrow's leaders and will shape our country's future. I am sure that the young students we have honored today have a bright future ahead of them."

Prudential ICICI Asset Management Company, under the aegis of the Prudential ICICI Young Students Education Trust, has set up a Young Students Education Trust to award scholarships to meritorious students.

The applications for scholarships were invited from investors under the Prudential ICICI Child Care Plan.

This innovative product offering from PruICICI makes it the only mutual fund with a 'Child Plan' that offers a scholarship option. The expenses on account of the scholarships awards are not charged to the scheme and are solely a contribution from the PIAMC.

Meritorious students are eligible for financial assistance up to Rs 100,000 to pursue further studies.

The board of trustees selected the winners after a stringent screening procedure.

The scholarships awarded ranged in value from Rs 10,000 to Rs 50,000. There were eight scholarships each for the SSC and HSC levels.