According to the new selection criteria for 2021, you will lose 10 out of 20 marks for your previous academic performance. In the initial selection phase, FMS Delhi does not consider a candidate's academic background; however, 20% of the final selection criteria are based on academic performance. 

Obtaining a 99+ percentile may guarantee a call, but the call will be wasted if you cannot convert it. Even if you performed exceptionally well in the interview, the likelihood of conversion is low. You must compensate for any academic points you may lose by achieving a high CAT score.

You can obtain the loan quantity that you genuinely require.

You will require about Rs. 200,000 for course fees, Rs. 300,000 for lodging and food for two years, Rs. 75,000 for a laptop, and an additional Rs. 125,000 for other costs. You may be approved for a 700,000 rupee study/education loan, but you are to only take out what is necessary. For the portion of the loan that was not used, interest is not due.

The bank will send the money for course fees and other college expenses/fees online to the college, while the money for personal needs will be credited to your savings account at that specific bank.

IIFT was established in 1963 by the Government of India as an autonomous organization to professionalize the country’s foreign trade management and increase exports by developing human resources, analyzing and disseminating data, and conducting research. Among the top 10 business schools, it is the only B-school in India that offers an International Business program. This institute is also known as the Mecca for trade.

The major pros and cons of the institute have been entailed below

Pros 

• It is one of the best B-Schools in the country and one of the finest in Asia if you want to pursue a career in Trade. As per NIRF Ranking 2018, the Institute has been ranked as number 23.
• Highly recognized organizations like WTO, OECD, World Trade Centre & European Union come to India for recruitment and visit only IIFT.
• The batch size is very small thereby rendering unlimited opportunities to its students. It is literally the Mecca for Finance.
• IIFT Delhi has been winning the CFA Equity Research challenge nationally for 2 out of the last 3 years.

Cons

• IIFT Delhi campus is very small, around 6.5 acres. Rooms are triple occupancy in the 1st year and double in the 2nd.
• Big names in consulting like McKinsey, BCG, and AT Kearney, are yet to visit the IIFT Delhi campus.

It seems almost impossible to happen. Although FMS is a reputed institute, it has yet to have the desired campus life. When a student dream of an MBA, a good campus life always remains inside their brain, and FMS does not fulfill that. 

If we talk about XLRI Jamshedpur, there is already an IIM in the state of Jharkhand, IIM Ranchi. It is not possible to have 2 IIMs in one state, plus XLRI has a different brand image. Many people consider this institute better than any IIM, whether the IIMs are ABC, and it is a private institute as well, so the chances are close to impossible for these institutes to become IIMs. And if any, how they become IIMs, so I think FMS won't change much, but XLRI will have to follow government guidelines then.