Philanthropy

Prashanthi Balamandira Trust invests Rs 400 cr to strengthen operations

The Prashanthi Balamandira Trust on Monday said it plans to invest an additional Rs 400 crore to expand its recently inaugurated medical college and hospital in Karnataka. On March 25, Prime Minister Narendra Modi inaugurated 'Sri Madhusudan Sai Institute of Medical Sciences and Research' (SMSIMSR) & 'Sri Sathya Sai Rajeswari Memorial Block', a completely-free-of-cost medical college and hospital, at Sathya Sai Grama, Muddenahalli in Chikkaballapura district. "The Prashanthi Balamandira Trust, which manages the Sri Madhusudan Sai Institute of Medical Sciences and Research, will spend another Rs 400 crore in the next phase for the construction of another 400-bed teaching hospital and related facilities to complement the medical college," its Founder Sri Madhusudan Sai said in a statement. The trust is working with like-minded individuals, philanthropists and corporate partners for this unique free education model, he added. "The trust is expected to spend around Rs 125 crore to Rs .

Over 71% of funders have set criteria to support philanthropy: AIP survey

Over 71 per cent of the funders have a defined grant-making thesis to support their philanthropic work with capacity building as the most popular kind of support provided by them, according to a survey by Accelerate Indian Philanthropy (AIP). Most funders consider a range of factors to assess how well an organization or project will fit with their objectives and priorities, and some of the parameters for assessment include leadership and governance, track record and impact, strategy and vision alignment. The survey highlighted that 62 per cent of respondents found leadership and governance, and track record and impact of a potential partner as key factors in their assessment metrics. Further, sustainability and scale is important for 16 per cent of respondents, while strategy and vision alignment is largely relevant to 15 per cent, it added. The survey provides decision-making frameworks for funders to facilitate informed, effective grant-making. It engaged with over 20 philanthro

Top headlines: Philanthropy by India's rich falls, airlines step up hiring

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Philanthropy by India's super rich falls by a third in FY22, says report

The dramatic fall was because contributions by the Azim Premji Foundation dropped by Rs 9,000 cr

Rise in Indian-American influence in US: Philanthropist M R Rangaswami

Entrepreneur and venture capitalist M R Rangaswami has claimed that there has been a dramatic rise in the influence of Indian Americans in the US and stressed the need for the community to be "more high profile" about philanthropy. The founder of Indiaspora -- a non-profit organization which aims at transforming the success of the Indian diaspora into meaningful impact worldwide -- Rangaswami said the Indian American community has grown in all spheres, including politics, government, entrepreneurship, the medical profession as well as academics. "It (influence and impact of Indian Americans) has been dramatic. Even recently there was an article from a Jewish American author who said, the time has now come for Indians to take over from the Jews. "So it was almost another community kind of saying, time is now for the Indian community," he told PTI in an interview. Rangaswami, however, said that the community needs to do more on the philanthropy, service, and charity fronts. "We need

Adani among 3 Indian billionaires on Forbes list of philanthropy heroes

Indian billionaires Gautam Adani, Shiv Nadar, and Ashok Soota, as well as Malaysian-Indian businessman Brahmal Vasudevan and his lawyer wife Shanthi Kandiah, were named in the 16th edition of Forbes Asia's Heroes of Philanthropy list released on Tuesday. The unranked list "highlights leading altruists in the Asia-Pacific region who demonstrated a strong personal commitment to philanthropic causes," Forbes said in a press release. Adani was listed for having pledged Rs 60,000 crores (USD 7.7 billion) when he turned 60 in June this year. The pledge makes him one of India's most generous philanthropists, the press release said. The money will address healthcare, education, and skill development and will be channelled through the family's Adani Foundation, which was founded in 1996. Each year, the foundation helps nearly 3.7 million people across India. Self-made billionaire and philanthropist Shiv Nadar counts among the top donors in India, having channelled close to USD 1 billion of

Philanthropic donations can pay you monetarily, finds think tank report

India offers two different rates of deduction on its most popular tax incentive scheme (also known as the 80G scheme), 50 per cent and 100 per cent, depending on the recipient

Giving back: Start-up entrepreneurs double their donation in FY22

Top 3 from start-ups are Nithin and Nikhil Kamath of Zerodha, Ronnie and Zarina Screwvala of Unilazer group and ex-Flipkart founder Binny Bansal

HCL's Shiv Nadar most generous: Hurun India Philanthropy List 2022

HCL founder Shiv Nadar topped as the most generous person in the country with an annual donation of Rs 1,161 crore, the EdelGive Hurun India Philanthropy List 2022 revealed on Thursday. Nadar, 77, has reclaimed the 'India's most generous' title with a donation of Rs 3 crore per day, according to the report. Wipro's Azim Premji, 77, slipped to the second position with an annual donation of Rs 484 crore after ruling at the top position for the last two consecutive years, it said. India's richest man Gautam Adani, 60, ranked seventh in Edelgive Hurun India Philanthropy List 2022, with a donation of Rs 190 crore. The report further revealed that in India a total of 15 individuals made an annual donation of over Rs 100 crore, 20 donated over Rs 50 crore and 43 over Rs 20 crore. A M Naik, 80, group chairman of Larsen and Toubro, who donated Rs 142 crore, is the country's most generous professional manager, the report stated. It further said that Nithin Kamath and Nikhil Kamath of Zerod

Patagonia's Yvon Chouinard gives everything away to fight climate change

All the profits of the $3 billion company, Patagonia, will now go towards fighting climate change and protecting land across the world

Rohini Nilekani is changing philanthropy

Her book offers a useful maxim for philanthropists to live by

TMS Ep202: Economic recovery, philanthropy, crude oil, anti-defection law

How is the Indian economy recovering? What is the impact of family philanthropy in India? Will high crude oil prices bring a windfall to some companies? What is an anti-defection law? Answers here

What has been the impact of family philanthropy in India?

Pandemic also reinvented philanthropy in India. Gautam Adani recently pledged to donate $7.7 bn to social causes. But is the family philanthropy by ultra-rich Indians making the desired impact?

Statsguru: Six charts that show India's rich remain reluctant givers

Overall CSR allocations appear to have taken a hit during the pandemic even as they became skewed towards certain sectors

Giving back: Techpreneurs reshape philanthropy, one donation at a time

UHNI is classified as those with a networth of over Rs 1,000 crore, making donations of over Rs 5 crore

Tapping the promise of philanthropy

The role of philanthropy has become more critical today

Billionaire Elon Musk's latest innovation is to troll philanthropy

"He doesn't seem to care much about using his philanthropy to curry public favour," Benjamin Soskis said

In 2020, the year of Covid-19, Indians donated 43% more: Survey

Two in three gave money or goods to charities or for community services, and an equal proportion said the government and businesses should have contributed more, says the 'India Giving Report 2021'

Billionaire Bill Gates regrets meeting Jeffrey Epstein: report

'It was a huge mistake to spend time with him, to give him the credibility of being there'

Gender, climate change: Gates divorce spurs divergence of investing goals

In years leading up to their breakup, Bill and Melinda French Gates dived into projects outside the scope of their foundation's work. That trend expected to accelerate post-divorce.