Financial Assistance to Students, who have lost a Primary Earning Member to COVID-19, for the Continuation of Education
Kotak Mahindra Group (Kotak) today announced the launch of Kotak Shiksha Nidhi – an initiative to provide financial assistance to students who have lost a parent/ parents and/or a primary earning family member to COVID-19, for the purposes of completing their education. Kotak Shiksha Nidhi is a collaborative CSR Project on Education & Livelihood of Kotak Mahindra Group companies, which is being implemented by Kotak Education Foundation (KEF).
Kotak Shiksha Nidhi is open only to Indian nationals. The application window opens today – 20th September, 2021 and KEF will accept application forms up to 31st March, 2022. Students who have lost a parent/parents and/or a primary earning member of the family from 1st April, 2020 onwards, and are studying in a government recognised State and Central Board or Indian University in any standard from the first grade to diploma or graduation (i.e. from age six years to 22 years) are eligible to apply.
Kotak Education Foundation has tied up with Buddy4Study^ – one of India’s largest scholarship platforms, to provide pan-India access to students interested in applying for Kotak Shiksha Nidhi.
Rohit Rao, Joint President & Group Chief CSR Officer, Kotak Mahindra Bank Limited said, “The COVID-19 pandemic has hurt many families. There are many children who have lost either one or both their parents or a primary earning member of the family. At this difficult time, we would like to extend a hand to ensure the continuity of education for these children without any further disruption. Kotak Shiksha Nidhi will financially assist selected beneficiaries who have lost the bread winner in their family from 1st April, 2020 and also subsequent cases, if any, up to 31st March, 2022, by taking care of their education expenses to help them complete their school and college education.”
Dr Ganesh Raja, CEO, Kotak Education Foundation said, “The COVID-19 pandemic has severely disrupted several lives, and has put at risk the continuation of education for thousands of children across India. Kotak Shiksha Nidhi is a sincere collaborative effort of Kotak Mahindra Group and Kotak Education Foundation to ensure that the school and college education of affected students doesn’t get disrupted due to the sudden loss of a parent or the primary earning member of the family due to COVID-19. The financial assistance under Kotak Shiksha Nidhi will cover school and college fees, library deposit, stationery & other relevant expenses payable to the school/college, including hostel lodging & boarding expenses.”
The selection of eligible students and the level of assistance that can be extended under Kotak Shiksha Nidhi will be at the discretion of KEF and will be based on the fulfilment of the eligibility criteria and the merit of the application.