In the wake of a new corporate law on Corporate Social Responsibility, the RP-Sanjiv Goenka Group, which cloced around Rs 900 crore in net profit, proposes to create a trust to carry out the responsibility.
"We are planning to create a trust for the group which will carry out the CSR activities instead of individual companies doing their own," group chairman Sanjiv Goenka said here today.
He was briefing media for announcing scholorship for 30 students to mark the 84th birth anniversary of Rama Prasad Goenka.
"We do CSR in a different way. We want to create institutions and do something which is worthwhile instead of feterring it away. We are in the process of creating a trust which will set up bodies like educational and medical institutions," Goenka said.
The idea is to create one institution and make them self-funded in three years.
The group has promoted a management institute International Management Institute recently.
Speaking about schorlorship, Goenka said it would offer scholorship of Rs 60,000 a year to a meritorious student and a student passing 12th standard in 2014 with 85 per cent can apply subject to the condition that family income does not exceed Rs 2.5 lakh per annum.
