Latest News | Zerodha, Art of Living to Adopt 1,000 Kids Orphaned Due to Covid

Mumbai, Jul 26 (PTI) The country's largest brokerage Zerodha, which has pioneered the discount broking in the country, and the Art of Living are adopting at least 1,000 children orphaned by the pandemic, by providing education and hostels at a school being extended by the religious foundation in a Bengaluru suburb.

Towards the expenses, the company, founded by brothers Nikhil and Nithin Kamath in 2010, has set aside Rs 10 crore for expanding the existing school and hotel capacities which can accommodate only 100-odd students now.

"Our focus is to adopt at least 1,000 students orphaned by the pandemic and also due to other circumstances from across the country. From our side, we've set aside Rs 10 crore, others like Sri Sri Ravishanker of the Art of Living personally, as well as businessman Mahavir Jain and many others, have come forward with helping hands," Nikhil Kamath, the co-founder and chief investment officer at Zerodha and the brothers' hedge fund venture True Beacon, told PTI from Bengaluru on Monday.

To begin with "we are focusing on young boys and girls who are in the 5-10 age group as they are the most vulnerable. We are in touch with almost all the states and many non-profits to identify the kids who need support," he said, adding the project, Taare Xamin Pe, was officially launched two days ago.

The objective is to offer them education up to the 12th class, to begin with and "we have already reached out to governments in Uttrakhand, Rajasthan and Gujarat and will soon be contacting other states too".

The children identified will be housed at the school-cum-hostel at the Kanakpura Ashram of the Art of Living, he said, adding the immediate priority is to increase the lodging capacity which can now accommodate only about 100 kids.

On why an ashram school, he said what these young children need is holistic care and "we found the Kanakpura Ashram is among the best to offer it given its spiritual background, green campus, and holistic food, and yoga and focus on rehabilitation, mental health and holistic learning".

He said Zerodha has been into many outreach programmes since the first wave of the pandemic, and apart from contributing Rs 25 crore to the central fund, it has also spent Rs 8 crore in free oxygen supplies, donated 25 ambulances to Mumbai, Bengaluru and Goa civic bodies, and donated 50,000 vaccine doses, and also vaccinated its 1,500-plus employees.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)