Kotak Mahindra donates Rs 5 crore to Odisha for Fani relief

Source: newindianexpress.com

BHUBANESWAR: Kotak Mahindra Bank on Monday handed over a cheque of Rs 5 crore to Chief Minister Naveen Patnaik here for carrying out relief, rehabilitation and reconstruction work in areas severely affected by cyclone Fani.

Managing Director and CEO of Kotak Mahindra Bank, Uday Kotak said, “As part of our CSR, we look forward to work jointly with OSDMA to implement disaster management activities in the State. We are making a small financial contribution to OSDMA to provide support to the people affected by the cyclone.”

The bank said as part of its corporate social responsibility (CSR) it is implementing a programme on relief and rehabilitation in partnership with Odisha State Disaster Management Authority (OSDMA) for the people of the state, who were severely affected by Fani, which ravaged Odisha coast on May 3.

The government might utilise a part of the contribution to construct two new shelter homes in the state.

On business front, the bank officials said Odisha market is growing rapidly and they will focus on providing citizen centric services in the state.

“Total deposits of the bank in Odisha increased by 33 per cent to over Rs 1,160 crore as of March 31, 2019. Similarly, bank’s savings account deposits in the State increased by 37 per cent to Rs 492 crore as of March 31,” Kotak’s Retail Liabilities president, Virat Diwanji.