"Tech Mahindra Foundation" announces major initiative

Mumbai, June 13 (UNI) As part of the corporate social responsibility scheme, Tech Mahindra, part of Mahindra and Mahindra group, today announced a major initiative to help the economically disadvantaged under the banner of 'Tech Mahindra Foundation'.

The chairman of the Mahindra group Mr Keshub Mahindra said ''at Mahindras corporate social responsibility is not just a duty, it's a way of life.'' It is pertinent to note here that Prime Minister Manmohan Singh had last month urged all big corporate houses to spend a higher share of their profits in welfare schemes for the upliftment of the poorer sections of society.

A corpus of Rs 250 million has been earmarked by the company for the education of the underprivileged and women's empowerment program in education.

The company said two per cent of the company profits will be committed towards the cause of this newly formed foundation. The Foundation will be able to spend Rs 60 million in the current year which is expected to increase over the years in line with increase in the corpus.

The foundation has also tied up with Delhi and Maharashtra based non-governmental organization (NGO) and partners like Akanksha, Anawa, Godhuli and Voice who will promote programs in education.

UNI