Industrialist launches Rs 5 cr education fund

Guntur, Andhra Pradesh, July 20 (UNI) 'Krishnadevaraya Education Fund' with a corpus of Rs five crore was launched here today for providing scholarships to bright but indigent students.

Explaining the details of the fund at a press meet, Industrialist Tulasiramachandra Prabhu said the interest on the fund would be utilised for granting scholarships to students on the basis of merit and financial status.

The candidates should get not less than 80 per cent marks in the qualifying examinations.

Mr Prabhu had been providing scholarships for the last 12 years.

He paid Rs 24 lakh to 960 students last year and Rs 40 lakh to about 2,000 students this year.

He wanted to institutionalise the disbursement of the scholarships and lay down criteria.The fund was named after Emperor Sri Krishnadevaraya who promoted literature and fine arts in his kingdom.

UNI