Malabar Group, the parent company of Malabar Gold & Diamonds on Friday announced scholarships of ₹16 crore to support the education of over 21,000 girl students across India.
The announcement was made at Bharat Diamond Bourse, BKC, Mumba to mark the Group’s flagship CSR initiative, the Malabar National Scholarship Programme, which underscores its commitment to supporting girls’ education.
The event was inaugurated by Piyush Goyal, Union Minister for Commerce & Industry.
MP Ahammed, Chairman, Malabar Group, said, “Education is the most powerful tool to change the world. Our scholarship programme is a direct reflection of our deep-rooted belief that education unlocks opportunities and transforms lives.”
“We are committed to removing barriers for young girls so they can fulfil their educational aspirations and contribute meaningfully to society,” he added.
The group allocates 5% of its profits to CSR initiatives, which span education, healthcare, environmental sustainability, and poverty alleviation, with a particular focus on empowering marginalised communities.
The Malabar National Scholarship Programme, started in 2007, stands as a flagship initiative under its CSR framework. To date, over ₹60 crore has been invested in the programme, providing financial aid to more than 95,000 girl students across India, the Group said.
By focusing on girls’ education, the Group aims to uplift not just individuals but entire communities, ensuring future generations are equipped with the tools for social and economic progress, it said.
In addition to the scholarship program, the Group’s Hunger-Free World Project provides nutritious meals to the underprivileged in India.
“Currently, 50,000 food packets are distributed daily in 80 cities across 16 states in India. Additionally, 10,000 food packets are provided every day to school students in Zambia,” the group said.
It aims to scale the project to serve 100,000 people daily at 200 centers. The Hunger-Free World Project is being implemented in collaboration with the Thanal, a voluntary organisation, which is active in social service.
The Group has also started the Grandma Home project, which provides free, fully equipped accommodation for destitute women, offering them protection and care.
Currently, homes are operational in Bengaluru and Hyderabad, with plans to expand to major cities in Kerala, as well as Chennai, Kolkata, Delhi, and Mumbai, the group said in a statement.
The Group’s CSR initiatives aimed at uplifting marginalised communities include medical aid for the underprivileged, support for housing construction, and financial assistance for the marriages of women in need.
To date, the Malabar Group said it has invested over ₹263 crore in various social responsibility projects.
Published – September 27, 2024 09:47 pm IST
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