Malabar Group Launches Rs 16 Crore Scholarship Program for Over 21,000 Girl Students
Pune, 28th September 2024: In a significant push towards promoting women’s empowerment through education, the Malabar Group, a prominent Indian business conglomerate and the parent company of Malabar Gold & Diamonds, announced its National Scholarship Programme for 2024. The announcement was made during an event held at the Bharat Diamond Bourse in Mumbai’s Bandra-Kurla Complex (BKC). This initiative, which focuses on supporting the education of girl students, stands as a key element of the Group’s Corporate Social Responsibility (CSR) framework.
The scholarship programme will provide financial assistance worth ₹16 crore, benefiting more than 21,000 girl students across India. Inaugurating the event, Honourable Minister of Commerce and Industry, Shri Piyush Goyal, emphasized the crucial role education plays in empowering young women. The event was attended by senior leaders of the Malabar Group, including Chairman MP Ahammed, Managing Director Asher O, Vice-Chairman Abdul Salam KP, Executive Director Nishad AK, and Mahendra Brothers Director Shaunak Parikh.
Speaking at the event, MP Ahammed, Chairman of Malabar Group, remarked, “We firmly believe that education is a cornerstone for progress, not only for individuals but for entire communities. Our scholarship programme aims to eliminate the financial barriers that prevent young girls from achieving their academic goals. Through education, these girls will gain the tools to improve their lives and contribute to society in meaningful ways.”
The Malabar National Scholarship Programme, first launched in 2007, has been a significant part of the Group’s efforts to support education in underserved communities. To date, the programme has disbursed over ₹60 crore, helping more than 95,000 girl students across the country. This year’s expansion of the programme reaffirms the company’s ongoing commitment to enhancing access to education, especially for marginalized groups.
The Malabar Group has long been engaged in a wide range of social initiatives. In 1999, it formalized its efforts through the creation of the Malabar Charitable Trust (MCT). Through MCT, the Group contributes 5% of its annual profits towards CSR activities focused on education, healthcare, environmental conservation, and poverty reduction. These initiatives are particularly targeted at empowering disadvantaged communities.
In addition to its focus on education, the Malabar Group’s CSR activities include medical aid for the needy, assistance with housing for the homeless, and financial support for the marriage of women from low-income backgrounds. Since its inception, the company has invested more than ₹263 crore in various social welfare programs aimed at sustainable development.
As the Group continues to grow, its commitment to giving back remains a priority. The company’s focus on education, hunger relief, and healthcare reflects its belief that sustainable business growth is inseparably linked to community well-being. The Malabar Group’s ongoing dedication to social responsibility will remain central to its future endeavors, ensuring that its success translates into meaningful contributions to society.
