SJVN Foundation to spend Rs 100 Cr in 5 yrs on Corporate Social Responsibility
Shimla: Starting out with handing out meritorious scholarships for higher studies to school passing students, SJVN Foundation as part of corporate social responsibility intends to spend Rs 100 crore in five years on healthcare, community facilities, education and infrastructure sectors, top management announced here today.
Speaking at the launch of Silver Jubilee Merit Scholarship scheme, NL Sharma, director personnel that the profit making public sector undertaking was going beyond project affected areas to reward merit and talent by giving out these scholarships to students of Himachal Pradesh and Uttarakhand.
The scheme selects students studying under state government board, CBSE or ICSE board schools on merit basis and gives them a scholarship amount of Rs 2000 per month for the entire period of doing a higher course, be it medicine, engineering, arts, science, commerce or other graduation courses.
To remain eligible for the scholarship, said Sharma, it was important that the student continue to perform in the higher classes and should he fail to do so, it would be stopped.
On the occasion, RP Singh CMD of SJVN and Sharma handed out cheques worth Rs 33.60 lakhs to 140 students (Rs 24,000/- per head)
Marking 25 years of its existence, SJVN Foundation has been registered as a trust to carry out CSR activities on behalf of the corporate body.
For the first year (2012-13) SJVN has allocated a budget of Rs 16.03 Cr towards CSR activities, which would be scaled up and in 5 years would be spending Rs 100 Cr as a responsible citizen concerned about the well being of the community, said Sharma.
Besides the merit scholarships, the foundation also distributed 9 powered wheel chairs to patients of muscular dystrophy.
This has been done with a vision to make such patients more independent, said Sharma.
Speaking on the occasion RP Singh, CMD SJVN said that till date SJVN had spent Rs 118 crores on CSR activities.
Other CSR activities being carried out include installation of garbage disposal system in project affected villages, technical education of youths in project affected areas, beautification of Shimla, promotion of higher technical education, training farmers in regional horticulture research centers and adopting industrial technical institutes.