IIT-B alumni donate Rs 200 crore in 15 years | mumbai | Hindustan Times
Today in New Delhi, India
Mar 29, 2017-Wednesday
New Delhi
  • Humidity
  • Wind

IIT-B alumni donate Rs 200 crore in 15 years

mumbai Updated: Aug 19, 2011 01:29 IST
HT Correspondent

Alumni of the Indian Institute of Technology - Bombay (IIT-B) have contributed more than Rs 200 crore to the prestigious engineering college in the past 15 years.

While a majority of donations came from alumni based in the US, the largest Indian donor was Nandan Nilekani, former chief executive officer of Infosys and the chairperson of the Unique Identification (UID) programme.

As part of its tenth year celebrations, the IIT-B Alumni Association will launch a Decennial Celebrations Fund on August 20.

“The decennial celebrations fund is aimed at encouraging smaller donations from alumni across the world. It works on the premise that if 50% of IIT-B’s 40,000-strong alumni choose to donate a mere Rs 10,000, IIT-B would have access to an additional Rs 20 crores at their disposal,” said AQ Contractor, dean, alumni and corporate relations.

A new online donation portal will also be launched on Saturday. “It will not only facilitate online donations but maintain donor history, track payments and enable donors to receive periodic fund utilisation reports,” added Contractor.

While the annual donation to IIT-B is now almost Rs 15 crore, over 40% of the funds have gone into infrastructure projects. Other major initiatives include joining bonuses to 86 new faculty and Rs 1.15 crore for Hostel Alumni Team Stewardship Programme, which includes supporting 200 mess workers.