NEW DELHI: An annual media scholarship has been instituted in the name of the megastar Amitabh Bachchan for students of cinema and media who will be selected after an exhaustive process.

The scholarship has been instituted by filmmaker Anand Pandit of Anand Pandit Motion Pictures.

As the scholarship was announced, the star handed the Amitabh Bachchan Media Scholarship Trophy, a cheque of Rs 5 lakh as well as a certificate to this year's winner Shradha Thorat from the Whistling Woods Institute.

'I hope this scholarship will push students of cinema to strive for excellence. This scholarship is a wonderful gesture by Anand bhai to harness and nurture new talent. Anand bhai is a dear friend and I am humbled by his gesture in instituting this initiative. I hope this scholarship helps talented individuals pursue their love for cinema,' said Bachchan.

'I don't see anyone better than Amit ji to inspire our younger generations. I feel a scholarship is a small ‎contribution to immortalise the biggest icon of Bollywood as well as give an opportunity to those who show true talent,' said filmmaker Anand Pandit.

The annual scholarship will be awarded to the student who shows promise and creativity. While the scholarship has gone to a student from Whistling Woods, Pandit is not yet decided whether this will be open to students from other institutions in later years.

'Every year one student who excels will be awarded the scholarship in consultation with Mr Bachchan and Mr Pandit,' said filmmaker and Whistling Woods founder Subhash Ghai.