As a principal architect of Swami Vivekananda’s educational vision, Swami Vimuktanandaji founded Ramakrishna Mission Sikshanamandira in 1958 as the third teachers’ training college in West Bengal. In 2024, Dr. Swapan Sarkar, Director of the U.P. Sircar Family Foundation (Maryland, USA), established a Scholarship Endowment Fund in his honour to support deserving and financially disadvantaged students of Sikshanamandira.
To be eligible for the Swami Vimuktananda Scholarship, applicants must be enrolled as current B.Ed. or M.Ed. students of Sikshanamandira. The selection of recipients is based on the following criteria:

1. Financial Need: Demonstrated requirement for financial assistance.
2. Academic Excellence: Consistent academic performance in college examinations.
3. Institutional Engagement: Regular attendance and active participation in curricular and co-curricular activities.
4. Ideological Commitment: Adherence to Swami Vivekananda’s ideal of “Man-making and Character-building” through self-discipline and involvement in social welfare activities.

Since its inception, the scholarship has enabled numerous students to overcome financial constraints and pursue higher education at the institution with dignity and confidence.