Chennai: IIT Madras is partnering with Power Grid Corporation of India to launch a scholarship program for meritorious BTech students from economically weaker sections. The Power Grid Corporation of India is contributing Rs.10.5 Crore towards creating a scholarship fund as part of its Corporate Social Responsibility (CSR) initiatives. This fund would support deserving students at IIT Madras, covering their tuition fees through merit-cum-means scholarships. This is the highest single contribution that IIT Madras has received for scholarships under CSR in the financial year 2021-22.
Speaking on this occasion, Prof V Kamakoti, director, IIT Madras, said, “IIT Madras’ motto is to be an ‘Institute for all.’ Initiatives like the BSc degree programme and scholarships for deserving students, have made IIT Madras more accessible for everyone. The institute records its sincere thanks to POWERGRID. IIT Madras is also planning to expand such scholarships to all technical institutions across the country.”
A MoU for implementing this CSR-driven initiative was signed on 7 May 2022 by Prof Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, and VK Singh, Director (Personnel), POWERGRID Corporation of India, in the presence of IIT Madras Director, Prof V Kamakoti.
Lauding this initiative to provide scholarships for students from economically weaker sections, Prof Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said, “We are grateful to Power Grid Corporation of India for this generous support of scholarships for economically weaker students. They are most deserving of this support, since it is by their sheer hard work that they have made it into this institution. Through this initiative, IIT Madras, as an inclusive institution, is glad to enable students—especially girl students, who need financial support the most.”
Speaking about this scholarship programme, VK Singh, Director (Personnel), Power Grid Corporation of India, said, “POWERGRID believes that scholarships can be one of the most direct ways to give back to the community. Due to increasing educational costs, students need financial assistance more than ever. Our Scholarship scheme demonstrates POWERGRID’s commitment to education and to future of upcoming generations. I believe that this scholarship will make a real, significant impact on the lives of the benefitted students.”
About the IIT Madras and Power Grid Endowment Scholarship
The ‘Power Grid Endowment scholarship’ fund has been created to provide scholarships for BTech students from economically weaker sections on a merit-cum-means basis. Every year many meritorious students from economically weaker sections pursue their education at IIT Madras. The Power Grid Endowment Scholarship will help these bright young students to pursue their education without any economical barrier.
This one-of-its kind scholarship programme will carry a special focus on women students from economically weaker sections with an aim to encourage women in STEM (Science, Technology, Engineering and Mathematics). This scholarship programme helps in amplifying IIT Madras’ principle of being an inclusive institute for students from all economic sections.
Kaviraj Nair, chief executive officer, Office of Institutional Advancement, IIT Madras, said, “This contribution from Power Grid Corporation of India, is the single largest CSR funding that IIT Madras has received in the last financial year for providing scholarships to students. We are happy to deploy the same funding meaningfully, to support meritorious students in the EWS (Economically Weaker Section) category.”
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