According to the Official Notification published by Indian Institute of Management Khozhikode in December 2009, the amount of fellowship for the first and second year is 17000 Rs per month. For the third and fourth year the amount increases to 18000 Rs per month. For the first six months of the fifth year the amount of fellowship is Rs 9000. Additional fellowship of Rs 6000 is provided to top performers. Furthermore, contingency grant of 120000 over the period of 4 years is also available.