Under the CSR Project of Education & Livelihood of Kotak Group Companies, their partner organisation Kotak Education Foundation is implementing ‘Kotak Shiksha Nidhi’ – financial assistance to students, who have lost primary earning member of the family due to COVID-19, for the continuation of education.
Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd (KMBL).
Kotak Mahindra Group (Group) offers a wide range of financial services that encompass every sphere of life. From commercial banking to stock broking, mutual funds, life and general insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June, 2021, Kotak Mahindra Bank Ltd has a national footprint of 1,612 branches and 2,591 ATMs, and branches in GIFT City and DIFC (Dubai). For more information, please visit the Company’s website at https://www.kotak.com
The following Kotak Mahindra Group Companies are collaboratively funding their CSR Project on Education & Livelihood Project – Kotak Shiksha Nidhi, which is being implemented by Kotak Education Foundation
Kotak Education Foundation (KEF) was established on 14th January, 2007 with a mission to address urban poverty through education & livelihood initiatives. KEF works in the impoverished areas of Mumbai - slums of Deonar, Govandi Chembur, Kurla, Dharavi, etc to empower children and youth from the underprivileged families through various education and vocational skills training initiatives to make them employable and lead a life with dignity.
Students studying in schools and colleges across India falling under any of the below categories:
Application start date: 20th September, 2021
Application deadline: The application window remains open up to 31st March, 2022 for students who have lost both parents or parent or a primary earning member of the family (other than parents) from 1st April, 2020, subject to the discretion of Kotak Education Foundation.
Contact Details :
Email: kotakshikshanidhi@buddy4study.com
Phone: +91-11-430-92248 (Ext: 263)
Eligible students for applying under Kotak Shiksha Nidhi are those who have lost both parents or parent or a primary earning member of the family (other than parents) due to COVID-19 and will be selected based on the financial situation of the applicant’s family and the assistance requirement for continuing school and college education
The selection process involves a multi-stage process as detailed below:
The objective of Kotak Shiksha Nidhi is to ensure the continuation of school and college education from 1st Standard up to Diploma or Graduation (ages 6 years to 22 years) at the same level as the student was undergoing prior to COVID-19 prior to tragic loss of one or both parents or primary earning member of family of the student. Thus, Kotak Shiksha Nidhi endeavours to take care of the actual expenses required for the continuation of current level of education. The selection and quantum of assistance under Kotak Shiksha Nidhi will be based on the fulfillment of the eligibility criteria and will be at the discretion of Kotak Education Foundation.
The Kotak Shiksha Nidhi application window opens on 20th September, 2021 to students who have lost one parent, both parents and a primary earning member of the family due to COVID-19 from 1st April, 2020 and remains open up to 31st March, 2022.
FY 2021-22 is the first year of Kotak Shiksha Nidhi and under its CSR Project on Education & Livelihood, Kotak Group of Companies undertake to support the continuation of school and college education of school and college going students from the 1st standard to diploma and graduation level (ages 6 years to 22 years) and continuation of Kotak Shiksha Nidhi for subsequent years is subject to various factors such as students need for continued assistance academic progress and no Disciplinary issues, which Kotak Education Foundation will review periodically and the continuity of Shiksha Nidhi including the renewal of the Shiksha Nidhi will be at the discretion of Kotak Education Foundation.
Kotak Shiksha Nidhi (financial assistance) will be transferred to the selected student’s bank account (and to parent / guardian’s account, if the student is a minor) in one or more installments subject to the students continuing with the education course. The manner of transfer and number of installments will be at the discretion of Kotak Education Foundation.