Cognizant announces Rs 260-crore aid for Chennai flood relief

US-headquartered IT company Cognizant, with major operations in Chennai, on Tuesday announced Rs 260-crore ($40 million) aid for flood relief measures in Chennai and assistance as loans, grants to its employees and business partners.

It announced a contribution of Rs 65 crore ($10 million) towards flood relief steps and another Rs 195 crore ($30 million) as assistance (loans, grants and healthcare assistance).

In a statement issued in Chennai, Cognizant said the Rs 65-crore assistance to help Chennai residents will be given through a mix of contribution to Tamil Nadu Chief Minister's Public Relief Fund; direct grants to NGOs, charitable and relief organisations providing healthcare, housing and other support in Chennai and direct health initiatives and other community programmes.

Cognizant, one of Chennai's largest employers with more than 60,000 employees and 11 facilities, will take a multi-pronged approach to support relief and long-term rehabilitation measures in the city, the statement said.

The company said it also plans to sponsor and fund additional initiatives through Cognizant Foundation, which spearheads the company's corporate social responsibility initiatives in India, and Cognizant Outreach, the company's employee-led, grassroots volunteering programme.

"Corporate support must play a vital role in providing immediate relief and helping to rebuild Chennai," president Gordon Coburn was quoted as saying in the statement.