Deutsche Bank Signs MoU for Rural Development in Maharashtra

Maharashtra Village Social Transformation Foundation (MVSTF), an initiative with a mission to transform 1,000 villages across the state, signed Memorandum of Understanding (MoU) with Deutsche Bank to empower and push development in rural part of the state.

The MoU was signed in the presence of Hon. Chief Minister of Maharashtra, Mr. Devendra Fadnavis. Present at the event were Mr. Praveen Pardeshi, ACS to CM, from Deutsche Bank- Mr. Ravneet Gill, India CEO, Mr. Abhay Laijala, Managing Director & Head, India Equity Research, Ms. Ruchi Khemka, Head CSR and Mr. Abhishek Puri, Director- India Equity Research. Mr. Ramnath Subramaniam, CEO, MVSTF signed the MoUs on behalf of MVSTF.

To converge the developmental efforts between the Government of Maharashtra and Corporate India, MVSTF enables a public-private partnership at grass root level. The partners provide financial resources along with domain knowledge and expertise to bring about lasting change in key development areas. The MoU was signed with the intent of furthering collaboration between the Government of Maharashtra & Corporate India.

Under the guidance and mentorship of Additional Chief Secretary Mr.Praveen Pardeshi,MVSTF is gaining rapid momentum with 310 villages already covered under the program and close to another 300 villages to be added over the next 3 months.

Mr. Gill appreciated the vision of Honorable CM and the swift implementation of development projects such as MVSTF. Mr. Pardeshi spoke about the convergence and implementation of various Government schemes in these villages.

MVSTF is a unique Public-Private Partnership in the country. MVSTF provides opportunity to the youth in the form of Chief Minister’s Rural Development Fellowship (CMRDF) programme. CMRDFs are assigned to a Gram Panchayat and work in close association with local administration to prepare and implement participatory development plans.

Speaking at the event CEO Mr. Ramnath Subramaniam spoke about the traction and support MVSTF is gaining across these villages from the administration, sarpanches and gramasthas. He highlighted the positive impact of the project and the strategy to implement the transformation program across 1000 villages.MVSTF is targeting to create Model villages which will be demonstrative of convergence of development schemes ably supported by Government and Corporate interventions. He said “VSTF looks forward to participation and support of Deutsche Bank and looks forward to roping in more philanthropists and corporate partners.”

Deutsche Bank has adopted 9 Gram Panchayats in Nandurbar and committed Rs 10 Cr towards MVSTF. For phase 1, Mr Gill handed over a Cheque of Rs 3.5 Cr to Hon. CM.