The Mahindra group on Monday announced that it will contribute Rs 30 crore as part of the group's corporate social responsibility programme in support of need-based scholarships for UWC college students.

The group plans to contribute Rs 6 crore a year for the next five years. The fund is expected to support 50 new scholarships each year, 25 for Indian students and another 25 for students selected by UWC national committe in other countries.

"The aim is to make the UWC college a merit-based procedure and this goes a long way towards achieving it. The goal is to get more people aware about the UWC movement and encourage giving among philantrophists," said Anand Mahindra, Chairman of Mahindra Group, at a press conference in Mumbai.

Mahindra said that he expects that the overall contribution for education to go up next year from its overall corporate social responsibility kitty, in line with the requirement in the new Companies Bill.

The UWC movement operates a global network of pre-university schools which deliver a challenging and transformational educational experience to a diverse cross-section of students.

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