Hyderabad : Malabar Group, the parent company of Malabar Gold & Diamonds, announced allocation of education scholarship of Rs3.14 crore that will be distributed to more than 3,900 girl students studying across 116 colleges in Telangana. This scholarship amount is covered under the Group’s flagship CSR initiative, the Malabar Scholarship Programme.

D Anasuya Seethakka, Minister for Panchayat Raj, Government of Telangana, inaugurated the event in the presence of the Group’s top leadership, including, Asher O, Managing Director – India, Malabar Group, Siraj PK, Retail Head - Rest of India, Mohammed Shareej K, Zonal Head, and Shanib K, Zonal Head, Malabar Gold & Diamonds. On the initiative, M P Ahammed, Chairman, Malabar Group, said: “Our scholarship programme is a reflection of Malabar Group’s belief that education unlocks opportunities and transforms lives. In 1999, the Malabar Charitable Trust was created to structure and expand these efforts. The Group allocates five per cent of its profits towards CSR initiatives.”

For this year, the Group has earmarked a budget of Rs16 crore for the scholarship programme to support the education of over 21,000 girl students in India.

The Malabar National Scholarship programme was launched in 2007. Till date, the Group has extended over Rs 60 crore financial aid to more than 95,000 girl students across India, and over Rs13.74 crore to 22,400 girl students in Telangana, an official press release said.