IIFL to donate Rs1.2 crore for Jammu and Kashmir flood victims
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IIFL to donate Rs1.2 crore for Jammu and Kashmir flood victims

22 May, 2017, 11:45 IST | Mumbai, India
Financial services provider IIFL has decided to donate $205,000 (Rs1.2 crore) towards the Prime Minister�s Relief Fund for the flood victims of Jammu and Kashmir (J&K). The amount is the company�s one day brokerage fees, and in response to Prime Minister Narendra Modi�s appeal to contribute generously to the distressed people of flood ravaged J&K.

The company has also decided to rush in supplies to enable and help the rescue, relief and rehabilitation efforts. In this regard, a Charity Day was held on Monday at IIFL�s Thane and Lower Parel offices in Mumbai. Around 2,000 employees donated items like blankets, bed sheets, generic medicines, torch, lanterns, clothes and non perishable packed food items.

Sarika Kulkarni, Chief Coordinator at IIFL Foundation, told BusinessLine that a decision was taken by the senior management to donate one day�s trade.

�On Friday, September 12, IIFL earned a gross commission on trades of $205,000. Chairman Nirmal Jain decided to donate the entire amount to the PM�s relief fund,� she said.

The company has decided to extend the drive for another two days. The decision to encourage employees to donate will also be spread to its other group companies.

�We want to replicate the efforts in other offices across India. IIFL�s bigger nine branches in top citieswould each have a similar charity effort,� she added.

She added that the company was also in touch with doctors from the Bhakti Vedanta hospital, who were already conducting relief and rescue work in Kashmir.

Entrepreneurship drive

Immediately after Dusherra, the company will kick-start its employment and entrepreneurship drive, which includes vocational training. �We have decided to co-brand with Don Bosco Institute, which is into vocational training, so that people can get employment in nearby industrial areas, including absorption within the Group. We are looking to recruit 500 boys and girls, essentially school dropouts, and will extend the drive to rehabilitating and employing youth from J&K,� Kulkarni added.