 "Federal Bank net profit up 18%")
The Federal Bank, as part of its celebrations of the 75th year of the country's independence, has gifted 1.55 acres of land for the construction of houses for the homeless poor.
The property was handed over to the Left government in the state for their flagship "Life Mission" project, which envisages to provide free housing for homeless and landless in the state.
The documents of the 1.55 acre property in Muvattupuzha in Ernakulam district, which was owned by the Federal Bank, were handed over to Chief Minister Pinarayi Vijayan by C Balagopal, Chairman and Independent Director of the Bank the other day.
This noble deed by the bank is expected to benefit at least 40 families of the southern state, the bank said in a statement.
M V Govindan Master, Minister for Local Self Governments, Rajanarayanan N, Senior Vice- President and Head Loan Collection & Recovery Department of the Bank, Renji Alex, Vice-President & Zonal Head - Thiruvananthapuram, Anoop T, Vice-President & Head - Government Business and other officials of the bank were also present on the occasion, it said.
Also Read
Commenting on the humanitarian gesture, Rajanarayanan said Federal Bank has always believed in the sustainable, long-term betterment of the society that it lives and grows in.
"So, we take great pride in associating with the Kerala government's meaningful initiative to provide shelter to the homeless," he added.
LIFE Mission (The Livelihood, Inclusion and Financial Empowerment Mission), an ambitious programme to provide secure and adequate housing facilities to all landless and homeless families in the state, was launched by the LDF government on September 28, 2016.
The project contemplates construction of housing units by utilising government funds, sponsorships, and funds of local self-government institutions.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
