Malabar Gold and Diamonds distributes scholarships worth Rs 17.24 lakh among 209 female students in Cuttack

Bhubaneswar: Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country, organised a CSR event at Indira Gandhi Women’s College in Cuttack recently to distribute scholarships among 209 female students of the city.

Mayor Subhash Chandra Singh, Barabati-Cuttack MLA Mohammed Moquim , MLA, Barabati, Cuttack, Ward no 7 corporator Mamata Nayak, college principal Bandita Dash, GB president Bibhuti Bhusan Nayak, Malabar Gold & Diamonds store manager in Cuttack Madan Mohan Sahoo, faculty members, students and key members of Malabar Gold & Diamonds Management were present at the event.

Scholarships worth Rs17,24,000 were distributed among 209 female students selected on merit basis. Malabar has also provided scholarships to 318 girl students from underprivileged families in Bhubaneswar this year.

As part of the Group’s commitment to CSR work, Malabar Gold and Diamonds allocates 5 per cent 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 last 20 years, the Malabar Charitable Trust, the CSR wing of Malabar Group has disbursed over Rs 38.32 crore as medical aid and supported over 7.5 Lakh people in need.

The Malabar Housing Charitable Trust was established in 2004 to provide housing assistance to poor and needy families. Till date, the trust has provided more than Rs 66 crore worth of funds to over 19,968 families. Under the initiative ‘Homes for Homeless’, the Group has provided financial aid of Rs 3,67,00,000 to over 734 individuals for the construction of houses in Telangana and Andhra Pradesh region.