Hyderabad, 17th Januarary 2023: Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country, organized a CSR event in Bharatiya Vidhya Bhavan at Basheerbagh ,Hyderabad at 11:00 am on 17th Jan 2023 to distribute Scholarships to female students from across the city as part of the Group’s CSR initiative.
By the Hon, Minister Of Education Telangana Smt.Sabitha Indra Reddy Garu and Smt. Vanam Sangeeta Garu (Corporator Somajiguda) was the Chief Guest at the event, which was attended by dignitaries, and other local government representatives, Govt Junior College- Teachers, Students and key Malabar Gold & Diamonds Management team members, Mr.Ali Rejai Somajiguda Store Head and Mr. Radheesh Store Head,Dilsukhnagar. Over 1907 student applicants identified on a merit basis and announced scholarship amount of Rupees-1,59,14,000/-. 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. 8000/- 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 ₹38.32 crores as medical aid and supported over 7.5 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 ₹66 crores worth of funds to over 19,968 families. Under the initiative 'Homes for Homeless', the Group has provided financial aid of ₹3,67,00,000 funds to over 734 individuals for the construction of their
houses, In Telangana and Andhra Pradesh Region.