Bajaj Group has announced that it will donate Rs 100 crore for the havoc caused by the coronavirus pandemic. As is the case, Bajaj has also shut it’s plants in Pune in line with the government’s lockdown orders. Rajiv Bajaj, the CEO of Bajaj Auto, was quoted recently as saying that he will take a salary cut before he let’s go anyone from the company in this situation.
The company has more than 200+ NGOs through which they aim to give away this fund to the needy. The Pune-based company wants to ensure the best services in the health field through. For this, government as well as private hospitals will be identified and the amount given to then for ICU upgradation, isolation units, testing procedures and ventilators.
The daily wage workers who are affected due to the lockdown, will be provided meals, sanitation as well as general healthcare. Bajaj has also observed that most of the city dwellers have retreated to villages. These people used to earn in the city and contribute to the village economy. A significant portion of Bajaj’s support will be towards an economic aid programme in rural areas which includes a direct survival grant, followed by a livelihood intervention using a revolving fund model. The family pays back the loan from the earnings of the livelihood intervention – leading to 80 per cent of funds provided to family being returned to a community fund for further deployment to others in need within the community.
Chairman, Rahul Bajaj, said that, “Once again, we salute all the health care, sanitation, and emergency support workers and local police who are working tirelessly to contain the situation. We continue to be committed towards helping them in every possible manner to fight this pandemic. Together, we will ensure that our communities remain healthy and have all the support to tide through these unprecedented times.”
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.