Kotak Education Foundation (KEF), a social initiative for the underprivileged children and youth by Kotak Mahindra Bank has signed a MoU with ITM Group.

The main objective of the partnership is to help the underprivileged students offering the best opportunity possible. ITM will provide the students of KEF with a fully funded scholarship for undergraduate courses at its campuses in Mumbai, Baroda and Raipur. Kotak Education Fund representative said that, ''Education is the pillar of our country and we would like to thank ITM for providing the kids an opportunity that will benefit them as well as our country''.

A total number of 13 students have been offered scholarship under this MOU, in various courses like Engineering, BSC-Nursing, BSC-Optometry, Medical Laboratory Technician and Interior Design. In the long run, many more such initiatives will be provided to the underprivileged youth for a better future.

Shares of the bank gained Rs 5.45, or 0.7%, to trade at  Rs 786.00.  The total volume of shares traded  was  37,339 at the BSE (3.19 p.m., Tuesday).