Kotak Mahindra Bank Limited in collaboration with Indian Institute of Technology (IIT) Madras on September 20, 2022 has announced the launch of ‘Kotak IIT-M Save Energy Mission’ to encourage adoption of various energy conservation measures in the micro, small and medium enterprises sector.
According to an official statement, under the corporate social responsibility initiative of Kotak Mahindra Bank, satellite centres would be set up at IIT Bombay, IIT-Gandhinagar, IIT Indore, IIT Ropar, while the hub of Save Energy Mission would be at the IIT-Madras campus in Chennai.
Furthermore, the hub would monitor and implement the energy assessment activities across the country, while the four satellite centres would identify the MSMEs that qualify for industrial energy assessment services and carry out audits and share recommendations for energy saving.
“We are excited to launch Kotak IIT-M Save Energy Mission, which will enable IIT-M faculty and students to work with the MSME sector and help them become energy efficient,” V Kamakoti, director, professor, IIT Madras, said.
Union Minister of Education, Skill Development and Entrepreneurship Dharmendra Pradhan formally rolled out the initiative at an event in Chennai on Monday, the release said.
“Kotak Mahindra Bank is committed to promoting energy conservation and Kotak IIT-M Save Energy Mission is a step in the direction to encourage SMEs and MSMEs to adopt environmentally sustainable technologies and processes,” Rohit Rao, joint president and group chief CSR officer, Kotak Mahindra Bank Ltd, said.