Tata Group sets up Rs 500-cr welfare trust for AI crash victims

The Tata Group on Friday announced setting up a Rs 500-crore welfare trust for the victims of the Air India plane crash that killed 260 persons in Ahmedabad last month.

Tata Sons and Tata Trusts have committed Rs 250 crore each to the AI-171 Memorial and Welfare Trust, which has been registered as a public charitable trust in Mumbai.

"The trust will provide both immediate and continuing support to the dependents/next-of-kin of the deceased, to those who were injured, and to all others who are directly or collaterally affected by the accident," Tata Sons said in a statement on Friday.

Besides, the trust will provide aid and assistance for alleviation of any trauma or distress suffered by the first responders, medical and disaster relief professionals, social workers and governmental staff who provided invaluable institutional support and service in the aftermath of the accident.

A five-member board of trustees will manage and administer the trust.