Mumbai, 20thSeptember, 2022:Kotak Mahindra Bank Limited (“KMBL/ “Kotak”) and the Indian Institute of Technology-Madras (IITM) announced their CSR association and launched the Kotak IITM Save Energy Mission. The Hon’ble Minister of Education and Skill Development & Entrepreneurship, Shri DharmendraPradhan inaugurated the Kotak IITM Save Energy Mission at the IITM Campus, Chennai on 19th September, 2022.
(L-R) Prof A. Ramesh, HOD, Mechanical Engineering, IIT Madras,Mr. Madhu Moses, VP Retail Institutions KotaK Mahindra Bank, Prof Kamakoti V, Director IIT Madras, Shri Dharmendra Pradhan, Hon’ble Minister of Education and, Skill Development & Entrepreneurship, Mr. Manish K. SME Location Head Chennai , Kotak Mahindra Bank, Prof. A Mahesh Panchagnula, Dean, Alumni and Corporate Relations, IIT Madras, Mr.Alex Thomas, Cluster Manager, Retail Institutions, Kotak Mahindra Bank
Under Kotak’s CSR Project on Environment and Sustainable Development, KMBL is funding IITM to establish five centres across India to promote energy efficiency for the Micro, Small and Medium Enterprises (MSME) sector. IIT Madras (IITM) at the Chennai campus will be the hub of Kotak IITM Save Energy Mission, which in turn will engage with IIT Bombay (IITB), IIT Gandhinagar (IITG), IIT Indore (IITI), and IIT Ropar (IITR) to establish four satellite centres for carrying out energy efficiency and performance audits and encouraging adoption of various energy conservation measures in the Indian MSME sector. These audits will focus on identifying inefficiencies in energy utilisation, process operations and safety-related concerns. The hub at IITM will monitor and implement energy assessment activities across India.
The satellite centres will identify MSMEs that qualify for Industrial Energy Assessment services and carry out audits and share recommendations for saving energy with them. Further, Kotak IITM Save Energy Mission will provide assistance and training to MSMEs for periodic audits. Furthermore, an online platform will be developed to maintain the entire database on the energy audits conducted.
Prof. V. Kamakoti, Director, Indian Institute of Technology Madras, said, “We are excited to launch Kotak IITM Save Energy Mission, which will enable IITM faculty and students to work with the MSME sector and help them become energy efficient.”
Rohit Rao, Joint President & Group Chief CSR Officer, Kotak Mahindra Bank Limited said, “Kotak Mahindra Bank is committed to promoting energy conservation and Kotak IITMSave Energy Mission is a step in the direction to encourage SMEs and MSMEs to adopt environmentally sustainable technologies and processes. The MSMEs need support and guidance to implement environmentally responsible measures in their units. Kotak’s CSR association with IITM is an endeavourto help MSMEs reduce waste, save on audit costs and implement energy-saving measures.”
Kotak Karma is the Corporate Social Responsibility (CSR) identity of Kotak Mahindra Group.
About Kotak Mahindra Bank Limited
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 licence 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.
The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. 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, 2022, Kotak Mahindra Bank Ltd has a national footprint of 1,702 branches and 2,761 ATMs, and branches in GIFT City and DIFC (Dubai).
For more information, please visit the company’s website at https://www.kotak.com/.
About IIT Madras
Indian Institute of Technology Madras (IITM) was established in 1959 by the Government of India as an ‘Institute of National Importance.’ The activities of the Institute in various fields of Science and Technology are carried out in 16 academic departments and several advanced interdisciplinary research academic centres. The Institute offers undergraduate and postgraduate programmes leading to B.Tech., M.Sc., M.B.A., M.Tech., M.S., and Ph.D., degrees in a variety of specialisations. IITM is a residential institute with more than 600 faculty and 9,500 students. Students from 18 countries are enrolled here. IITM fosters an active entrepreneurial culture with strong curricular support and through the IITM Incubation Cell.
Recognized as an Institution of Eminence (IoE) in 2019, IITM has been ranked No.1 in the ‘Overall’ Category for the fourth consecutive year in India Ranking 2022 released by National Institutional Ranking Framework, Ministry of Education, Govt. of India. The Institute has also been ranked No.1 in the ‘Engineering Institutions’ category in the same Rankings for seven consecutive years – from 2016 to
2022. It was also adjudged as the ‘Top innovative Institution’ in the country in Atal Ranking of Institutions on Innovation Achievements (ARIIA) in 2019, 2020 and 2021. ARIIA Ranking was launched by the Innovation Cell of Ministry of Education.
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