Under the initiative of Ministry of Housing and Urban Affairs, IIFL Home Finance organizes

CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LIMITED REITERATES PARTNERSHIP WITH SRI SATHYA SAI SANJEEVANI HOSPITALS FOR FREE CHILD HEART SURGERIES

 

§  Earmarks outlay of INR 120 lakhs for the 2021 – 2022 fiscal

§  Free heart treatment provided to children of heavy commercial vehicle drivers, cleaners and mechanics during COVID-19

 

Cholamandalam Investment & Finance Company Limited (Chola), the financial services arm of Murugappa Group, today reiterated its alliance with Sri Sathya Sai Sanjeevani Hospitals to provide free cardiac treatment and care to children of drivers, cleaners and mechanics of Commercial Heavy Vehicles, from anywhere in the country. The company has announced an outlay of INR 120 lakhs this fiscal (2021 – 2022) towards this noble cause which will help treat 80 children who are born with congenital heart disease. 

 

In the 2020 – 2021 fiscal, Chola had pledged to support the surgical heart procedures for these children whose ages ranged from new born upto 18 years with a total outlay of INR 120 lakhs.

 

Commenting on the initiative, Mr. Ravindra Kumar Kundu, Executive Director, Cholamandalam Investment & Finance Company Limited said, “Trucking is today one of the most important links that facilitates productivity and competitive efficiency, leading to rapid economic development of the country. It also plays a key role in bringing about the development of the remote regions by opening them to trade and investment and integrating them with the mainstream economy. Yet the lives of truck drivers, cleaners and mechanics are adversely affected by inconveniences, poor facilities, and the absence of empathy. The stressful and challenging nature of the work adversely influences their physical as well as mental health. This initiative is a small step from our end to bring some relief and help these families enter a better life. This World Heart Day (September 29), and always, we hope and pray for a healthier world.”

 

As part of the arrangement, Sri Sathya Sai Sanjeevani Hospitals located in Raipur (Chhattisgarh), Palwal (Haryana) and Kharghar (Maharashtra) provide world class pediatric cardiac care for the children of road transport staff totally free. From diagnostics to open heart surgery, post-operative care, medication, diet…all services will be provided without any charge. 

 

Speaking on the partnership with Chola, Dr. Subramanian Chellappan, Director, Sri Sathya Sai Sanjeevani Hospital (Palwal, Haryana) said, “In India, every year around 2.4 Lakh children are born with congenital heart disease (CHD) with this being one of largest cause of child mortality and the treatment would cost INR 4-5 lakhs in private hospitals which is absolutely not affordable to socio-economically backward families like drivers and mechanics. During the COVID Pandemic, children suffering with congenital heart disease (CHD) were vulnerable to both COVID and CHD. While this treatment was unavailable in both Private and Govt Hospitals during the Pandemic, Sai Sanjeevani Hospitals continued to offer these life saving surgeries with COVID protocols. We value our partnership with Chola who supported children of trucking community with CHD, in these critical times. From 2019 till Sept 2021, Chola has given new life to over 150 children whose families have been uplifted financially, socially and emotionally.”

 

Chola is committed to identifying and supporting programmes aimed at empowerment of the disadvantaged sections of the society through education, access to and awareness about financial services and the like; provision of access to basic necessities like healthcare, drinking water & sanitation and the like to underprivileged; working towards eradicating hunger and poverty, through livelihood generation and skill development; supporting environmental and ecological balance through afforestation, soil conservation, rain water harvesting, conservation of flora & fauna, and similar programme; promotion of sports through training of sportspersons; undertaking rural development projects;  and any other programme that falls under their CSR policy and are aimed at the empowerment of disadvantaged sections of the society.

 

Truck drivers, cleaners or mechanics whose children are suffering from congenital heart disease may approach Sri Sathya Sai Sanjeevani Hospitals at 8010119000 to avail of the free treatment.

CHOLA ANNOUNCES PANDEMIC SUPPORT PROGRAM FOR

  CHOLA ANNOUNCES PANDEMIC SUPPORT PROGRAM FOR EMPLOYEES 

Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, announced its Pandemic Support Program for its employees. 

The support initiatives are aimed towards enabling Chola employees to wade through the unsettling spread of Coronavirus and the impact it has had on their lives. The benefit program also looks at providing support to the dependents of employees. 

Commenting on the Program, Mr. Vellayan Subbiah, Chairman, Cholamandalam Investment & Finance Company Limited said, “The unexpected challenges of the pandemic provided an opportunity to find our ways and means to stay united, stand strong against the viral chaos. I would like to take this opportunity to thank all our employees across levels for standing strong with us during these trying and testing times. And we firmly believe that this could be possible only with their respective families standing strong behind them. Hence all initiatives under our Pandemic Support Program are aimed at ensuring that our employees and their families continue to be safe and healthy. We will continue to actively engage with them to ensure that they get the necessary care and support.” 

The initiatives under Chola’s Pandemic Support Program include… 

Monthly gross salary credit to the family of deceased employees up to 24 months 

Employment opportunity on merit for the eligible dependents 

Support education of deceased frontline field employees’ children up to graduation 

Risk protection by way of Hospitalization benefits (Medical insurance up to Rs 2.5lacs) – for the employee and his family, Immediate cash facility on impacted by COVID, Company hospitalization tie-up program for COVID affected employees and family, Death cover on account of the pandemic, term life insurance providing 50 times of monthly gross and continued insurance coverage for the rest of the family members for a period of 12 months. 

Interest free loans for COVID affected employees and family on easy repayment terms 

Cash benefit for immediate relief of COVID affected employees 

Additional Death Cover on account of the pandemic  Special paid leave for COVID affected employees  

Mission “Zero-COVID in my branch” program  Centralized COVID war room in every region to identify hospital beds, oxygen and medication for employees and their families 

Doctor on call 24/7

Vaccination Support program & exclusive drives Webinars on guided meditation and practices to improve respiratory functions

CHOLA PARTNERS WITH MARUTI SUZUKI FOR

CHOLA PARTNERS WITH MARUTI SUZUKI FOR VEHICLE FINANCE

§  ‘Buy Now Pay Later’ to make car financing easier for customers

§  Allows flexibility to customers to pay EMIs after two months of availing the loan

With the aim to finance a new car purchase easy and affordable, Cholamandalam Investment & Finance Company Limited (CIFCL) today announced a partnership with Maruti Suzuki India Limited. The objective of this partnership is to provide customised auto retail financing solutions to retail buyers. The ‘Buy Now Pay Later’ offer is aimed to provide customers with easy financing options.

A two-month deferment of EMI will bring advantage to car customers who currently are under resource crunch amidst the COVID-19 pandemic.

Encouraging people to go for financing of a new vehicle, the ‘Buy Now Pay Later’ offer will allow customers to start paying the EMIs after 60 days of loan disbursement. This will make the process of car buying more convenient in these unprecedented times. With Maruti Suzuki’s vast network of 3,086 new car retail outlets across 1,964 cities and towns and CIFCL’s extensive branch presence across the country, the offer is expected to benefit many customers. The offer is available on select Maruti Suzuki models and will be applicable on loan disbursement till June 30, 2020.

Commenting on the partnership, Mr. Ravindra Kundu, Executive Director, Cholamandalam Investment & Finance Company Limited said, “With the lockdown ending soon but the COVID-19 scare still far from being gone, social distancing is bound to be the new normal for at least some time to come. In such a scenario, owning a vehicle is certainly one of the most practical options to move ahead. Given this backdrop, we are very excited to partner with Maruti Suzuki India Limited, a trusted and renowned brand in India. This partnership will give us a strong foot hold in the car financing space, with our 1094 branches spread across semi urban and rural markets. The synergies between the organizations are aimed towards singular focus to bring benefits to the customers. This ‘Buy Now, Pay Later’ offer will help customers in realizing their car dreams without postponing their purchase any further. This partnership is also in line with our continuous endeavour in enabling our customers to ‘Enter a Better Life’.”

Speaking on the customer-centric initiative, Mr. Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki said, “Customers have always been at the heart of Maruti Suzuki’s efforts of making personal mobility accessible. The partnership with Cholamandalam Investment & Finance company Limited will boost convenience by offering customized retail financing to the customers. It is aimed to offer comfort to buyers who may have faced liquidity crunch during the Covid-19 lockdown.  I am sure that the “Buy-Now-Pay-Later Offer” will encourage customers towards car purchase without putting immediate extra pressure on their pockets.”