Hyderabad, India – February 25, 2008 - Broadridge Financial Solutions (India) Private Limited, today announced that it would be funding Rs. 1.2 Crore over a three-year period for the development of a Bridge Camp to be operated by the MV Foundation, which works toward the eradication of child labor in India. The MV Foundation is a not-for-profit organization run by Magsaysay Award winner, Dr. Shantha Sinha and has been in existence since 1981.
MVF has developed a unique and powerful approach to deal with the twin problems of child labor and illiteracy by getting children to enroll in Residential Bridge Camps (RBC). RBC provides a learning platform for children who have been involved in bonded and non-bonded labor activities to train and groom them to enroll into formal schools.
Over the past 15 years the RBC program has expanded to over 500 villages and nearly 150,000 children have been through the programs and enrolled in schools. In addition, the group has worked to see that more than 4,000 bonded child laborers have been released. With support from Broadridge, MVF now plans to extend its program to its First Ever Urban Residential Bridge Camp at Chandrayanagutta, Hyderabad. The camp’s aim is to transform the lives of children through residential-based training and education.
Commenting on the occasion, Mr. V Laxmikanth, the Managing Director of Broadridge India, said
“We believe that this significant investment from Broadridge is a demonstration of our commitment to social responsibility. While we consistently strive for operational and financial excellence, we also give due focus to the needs of the community where we operate, particularly those who are less privileged.”
He continued, “Broadridge India strongly advocates doing the right thing with regard to all people. Our partnership with the MV Foundation for such a program goes beyond financial or material assistance and is aimed at fostering the active participation of our associates and their families so we can all contribute to social causes that merit our attention.”
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 16 countries.
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