ICICI Bank will give Rs 1,200 cr to build 3 Tata Memorial Centre for cancer

ICICI Bank on Friday committed Rs 1,200 crore to help Tata Memorial Centre (TMC) to expand its cancer treating facilities

icici bank

Press Trust of India Mumbai

Listen to This Article

ICICI Bank on Friday committed Rs 1,200 crore to help Tata Memorial Centre (TMC) to expand its cancer treating facilities.
As part of the commitment from ICICI Foundation, three new facilities will be built in Navi Mumbai's Kharghar on the outskirts of the financial capital, Mullanpur in Punjab and Visakhapatnam in Andhra Pradesh.
Girish Chandra Chaturvedi, the chairman of the second largest private sector lender, said the three facilities will be fully functional by 2027 and will enable TMC to handle 25,000 more cancer patients per year.
"This is a step towards resolving a problem which we are foreseeing to aggravate, especially as urbanisation increases," he told reporters at TMC's flagship hospital here after signing three Memorandums of Understanding for the centre.
Chaturvedi said right now, the bank has Rs 500 crore of Corporate Social Responsibility (CSR) corpus ready for the three facilities, and will be adding to the corpus as the years go.
The bank feels by the end of the spending cycle, the overall CSR corpus will be Rs 2,500 crore, which means the bank will be spending 50 per cent of its overall money on this partnership, Chaturvedi said.

Also Read

BARC Director A K Mohanty appointed as new Atomic Energy Commission cheif

ICICI Bank best placed to face NIM shock; analysts see up to 44% upside

PM launches projects worth Rs 5,800 cr projects on National Technology Day

ICICI Bank Q3 Preview: Analysts expect robust loan book to drive PAT growth

Max Healthcare, IIIT-Delhi tie up for healthcare research, education

Govt to build a developed India by 2047, focusing on all sectors: Rajnath

Metaverse, Web3 market to grow 40% annually to reach $200 bn by 2035

Delhi Excise scam: Manish Sisodia produced before CBI court via video

'Sought sexual favours, touched inappropriately': FIRs against WFI chief

Nepal PM arrives in MP for 2-day state visit; heads to Mahakaleshwar temple

He added that at present, the bank spends about 25 per cent of its CSR budget on healthcare which may go up or down depending on the need.

(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.)

First Published: Jun 2 2023 | 2:28 PM IST

Explore News