Karur Vysya Bank donates Rs 29 lakhs worth EVs to Tirumala temple

Karur Vysya Bank (KVB) has donated five eight-seater battery operated electric vehicles (EVs) to the Tirumala Tirupati Devasthanams, the trust that manages the Tirumala Venkateswara Temple in Andhra Pradesh.

The electric vehicles, which cost INR 29.27 lakhs, will be used for transporting devotees inside the Tirumala complex, said Karur Vysya Bank.

The bank said that the battery operated electric vehicles provided to the TTD are part of its CSR initiatives as well as intended to help it meet the environmental sustainability and climate-related objectives under its environmental, social and governance (ESG) initiatives.

Karur Vysya Bank donates Rs 29 lakhs worth EVs to Tirumala temple. Photo courtesy of Karur Vysya Bank.

Ramesh Babu — Karur Vysya Bank MD and CEO said: “Environmental, Social and Governance (ESG) practices are increasingly being used as a tool to assess a corporate’s support for an orderly low-carbon transition.

“TTD has planned to develop Tirumala as a green town and is actively encouraging reduction in the use of fossil fuels in the hills. In line with the Bank’s adherence to ESG practices while initiating CSR projects, KVB decided to provide battery operated electric vehicles to TTD.”