Schools are in the process of applying for the Hindustan Times scholarship, announced for the first time this year.
There are 50 scholarships worth Rs 50,000 each for 10 students each from classes 5 to 9. The initiative also includes certificates of merit for students from classes 3 and 4 under the 'Whiz Kids' programme.
"We normally do not publicise such announcements among our students because they come with a commercial mandate, but this is a great initiative," said Suresh Nair, principal of Vivek Vidyalaya.
He said several students had shown an interest in applying and will be doing so in time for the deadline.
Candidates will be shortlisted on the basis of a nomination form sent by school principals detailing students' curricular and extra-curricular achievements.
A panel of judges selected by the Hindustan Times will then evaluate students based on their nomination forms, an interview and an essay.
"A quarter of our students have already submitted their forms, I am very pleased with all the initiatives that Hindustan Times is taking," said CR Pathak, principal of HVB Academy at Marine Lines.
Schools will have to submit their forms to the Hindustan Times before January 25.
Candidates will be short listed for certificates and scholarships by February 15 and the winners will receive their awards at a function to be held in either the third or last week of February.