Bhubaneswar: Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country, organized a CSR event in Ramadevi Women's University today and distributed scholarships to female students from across the city as part of the Group’s CSR initiative.

Ashok Chandra Panda, Minister, Shreemayee Mishra, Chairperson, Odisha Building & Other Construction Workers Welfare Board, Sulochana Das, Mayor, Bhubaneswar, Ananta Narayan Jena, MLA, Prof. Aparajita Chowdhury, Vice-Chancellor, Ramadevi University, Thahsil Ahammed, Zonal Head, Malabar Gold and Diamonds, Ashnaf Arakkal, Store Head, Bhubaneswar and other local government representatives, students and key Malabar Gold & Diamonds Management team members were present in the event. Over 318 student applicants identified on a merit basis and announced scholarship amount of Rs 28,28,000. The Group also announced plans to provide scholarships for 210 deserving girl students at Cuttack from underprivileged families and providing scholarships ranging from Rs. 6000 to Rs. 10000 in coming days.

As part of the Group’s commitment to socially responsible causes, Malabar Gold and Diamonds allocates 5% of its profits for charitable and philanthropic activities in the region. The key areas of focus for the Group’s CSR activities include Housing assistance, medical aid, Environmental Protection and Women empowerment and Education. In last 20 years, the Malabar Charitable Trust, the CSR wing of Malabar Group has disbursed over ₹38.32 crores as medical aid and supported over 7.5 Lakh people in need. The Malabar Housing Charitable Trust was established in 2004 to provide housing assistance to poor and needy families. To date, the Trust has provided more than ₹66 crores worth of funds to over 19,968 families. Under the initiative 'Homes for Homeless', the Group has provided financial aid of ₹3,67,00,000 funds to over 734 individuals for the construction of their houses, in Telangana and Andhra Pradesh region.