Cognizant earmarks Rs 260 crore for flood hit Chennai

Company will undertake a multi-pronged approach to support relief and longer-term rehabilitation measures in Chennai

IT major Cognizant has committed $40 million (Rs 260 crore) to undertake relief and rehabilitation to the flood hit Chennai.

Cognizant is one of the largest employers in the region recruiting more than 60,000 at its 11 facilities.

The company would undertake a multi-pronged approach to support relief and longer-term rehabilitation measures in city.

"Under the proposed $40 million, Cognizant would allocate $10 million (Rs 65 crore) of funding to help the residents of Chennai through Chief Minister's Public Relief Fund and NGOs and also through other charitable and relief organisations", a company statement said.

"About $30 million (Rs 195 crore) has been committed to assist with the immediate and longer-term recovery needs of its employees and business partners through direct grants and loans to employees as well as other individuals supporting Cognizant's Chennai operations...", it said.

"Corporate support must play a vital role in providing immediate relief and help to rebuild Chennai", Cognizant, President, Gordon Coburn said.

"We are committed to helping with the large challenge of rebuilding the city and addressing the health, safety and housing needs of the residents of Chennai", he said.

"We encourage the larger Chennai business ecosystem to join us in the effort to quickly recover from this disaster", he added.