Chennai, 23 March 2015 : Cholamandalam Investment and Finance Company Limited (Chola), as a part of its Corporate Social Responsibility (CSR) initiative, has commenced a project to provide quality drinking water and sanitation facilities for the people of Telangana.
Chola believes every Indian must have access to improved sanitation and clean drinking water, and the Swaccha Karimnagar Project is a step in this direction. This initiative will provide clean drinking water from Reverse Osmosis (RO) purification plants to the residents of Papanapalli Village and general public at Karimnagar. Chola has chosen to adopt Bejjanki Cross Roads, Guggilla and Vinjapalli villages for sanitation and ensures every single household will have access to toilets.
A borewell and a toilet complex are planned to be set up for a school in NTR Colony, Koheda village and an innovative self-cleaning toilets shall be set up in Karimnagar Bus Stand. These efforts will foster sanitation and a healthy environment in an effort to enable the locals to lead a disease free life.
Any Time Water Supply (ATW) is an unique concept where the villagers will be given smart cards to swipe and get purified drinking water from the RO plants in a judicious manner, without any wastage. Differently abled people would be employed to manage facility operation and maintenance of its RO plants, toilets in Papanapalli village and Karimnagar bus stand, thus helping create livelihood and employment opportunities. To execute these CSR initiatives, Chola has partnered with a reputed NGO named Bala Vikasa Social Services Society.
Mr. Vellayan Subbiah, Managing Director, Cholamandalam Investment and Finance Company Limited said, “Chola has chosen to focus on water & sanitation as one of our CSR initiatives. Studies have shown that every rupee invested in sanitation results in more than a rupee saved in healthcare. This year we are investing in building water & sanitation infrastructure in 3 villages of Karimnagar district. Similar projects are also being planned in Chattisgarh through partnerships with reputed NGOs.”
About Cholamandalam Investment and Finance Company Limited
Cholamandalam Investment and Finance Company Limited was incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers.
Chola operates from over 579 branches across India with assets under management above INR 25,000 Crores. The subsidiaries of Cholamandalam include Cholamandalam Securities Limited (CSEC) and Cholamandalam Distribution Services Limited (CDSL).The vision of Chola is to enable customers enter a better life. Chola has a growing clientele of over 7.5 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees and society.
About Murugappa Group
Founded in 1900, the INR 243 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Sabero Organics Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.