Private sector Kotak Mahindra Bank Ltd in association with Indian Institute of Technology-Madras on Tuesday said it has launched the ’Kotak IIT-M Save Energy Mission’ to encourage adoption of various energy conservation measures in the micro, small and medium enterprises sector.
Under the corporate social responsibility initiative of Kotak Mahindra Bank, satellite centres would be set up at IIT-Bombay, IIT-Gandhinagar, IIT-Indore, IIT-Ropar, while the hub of Save Energy Mission would be at the IIT-Madras campus in Chennai.
The hub would monitor and implement the energy assessment activities across the country, while the four satellite centres would identify the MSMEs that qualify for industrial energy assessment services and carry out audits and share recommendations for energy saving, a press release from IIT-Madras said.
”We are excited to launch Kotak IIT-M Save Energy Mission, which will enable IIT-M faculty and students to work with the MSME sector and help them become energy efficient,” IIT Madras Director professor V Kamakoti said.
Union Minister of Education, Skill Development and Entrepreneurship Dharmendra Pradhan formally rolled out the initiative at an event in Chennai on Monday, the release said. ”Kotak Mahindra Bank is committed to promoting energy conservation and Kotak IIT-M Save Energy Mission is a step in the direction to encourage SMEs and MSMEs to adopt environmentally sustainable technologies and processes,” Kotak Mahindra Bank Ltd Joint President and Group chief CSR officer, Rohit Rao said.
”The SMEs and MSMEs need support and guidance to implement environmentally responsible measures in their units. Kotak’s CSR partnership with IIT-M is an endeavour to help SMEs and MSMEs reduce waste, save on audit costs and implement energy-saving measures,” Rao said.