The Motilal Oswal Foundation, the philanthropic arm of Motilal Oswal Financial Services, has announced a ₹130 crore donation to the Indian Institute of Technology, Bombay (IIT-Bombay). This substantial contribution, one of the largest corporate philanthropic efforts in India, was revealed on September 17, 2024.
The donation will be used to establish the Motilal Oswal Knowledge Centre, aimed at enhancing academic infrastructure at IIT-Bombay. Additionally, a Motilal Oswal Centre for Capital Markets will be created, offering graduate and post-graduate courses as well as online diplomas in financial markets.
This donation comes in the wake of a record-setting ₹315 crore gift made by Infosys co-founder Nandan Nilekani in June 2023. Nilekani's contribution was dedicated to developing world-class infrastructure, advancing research in emerging technologies, and fostering a deep tech startup ecosystem at IIT-Bombay. His total commitment to the institute now stands at ₹400 crore.
In recent developments, the 2024 placement season at IIT-Bombay saw average salary packages increase by 7.7% to ₹23.5 lakh per annum. However, the number of students placed declined compared to the previous year, with around 25% of students unable to secure jobs, according to the placement report.
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