Hyderabad, 21 December 2021: Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country, organized a CSR event in Bharatiya Vidya Bhavan,
Hyderabad Kendra, Basheer Bagh, King Koti Road, at 11:00 am on 21 st Dec 2021
to distribute Scholarships to female students from across the city as part of the
Group’s CSR initiative.
Smt. Sunitha Lakshma Reddy Garu, Chairperson of Telangana Women’s
Commission was the Chief Guest at the event, which was attended by dignitaries
including Sri. Tulasi Srinivas Garu, Gaddiannaram Traders Association President
and other local government representatives, Govt Jr. College, Teachers, Students
and key Malabar Gold & Diamonds Management team members Mr. Siraj PK,
Retail Head (Rest of India), Mr. Shareej K, Store Head, Somajiguda. Over 1000
student applicants identified on a merit basis and announced scholarship amount
of up to ₹5000/- each. A total of 500 No’s students were handed over with
cheques at the event and remaining students will be distributed with the
Scholarship cheques in coming days. The Group also announced plans to provide
scholarships for 5500 No’s deserving girl students across Telangana region from
underprivileged families and providing scholarships ranging from Rs. 6000/- to
Rs. 10000/- in coming days.
As part of the Group’s commitment to socially responsible causes, Malabar Gold
and Diamonds allocates 5% of its profits for charitable and philanthropic activities
in the region. The key areas of focus for the Group’s CSR activities include
Housing assistance, Medical aid, Environmental Protection and Women
empowerment and Education. In the last 20 years, the Malabar Charitable Trust,
the CSR wing of Malabar Group has disbursed over ₹33 crores as medical aid
and supported over 6 Lakh people in need. The Malabar Housing Charitable Trust
was established in 2004 in order to provide housing assistance to poor and needy
families. To date, the Trust has provided more than ₹47 crores worth of funds
to over 15,000 families. Under the initiative 'Homes for Homeless', the Group
has provided financial aid of ₹50,000 each to over 250 individuals for the
construction of their houses.
Since 2007, Malabar Group has supported education programs for girls, and
provided scholarships to girls studying at Govt Junior Colleges, with financial
assistance amounting to ₹2000/- to ₹3000/- each year for intermediate first
year students. In the last five years, the Group has awarded scholarships worth
nearly ₹2 crores to over 15,000 girl students in Telangana and Andhra
Pradesh.
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