National Sports Development Fund signs MOU with NTPC and REC of Rs 215 Cr financial support

The financial support to be given by NTPC is Rs 115 Crores over the next 5 years and they will be supporting Archery discipline in India.


Devdiscourse News Desk | New Delhi | Updated: 14-09-2022 20:12 IST | Created: 14-09-2022 20:12 IST
National Sports Development Fund signs MOU with NTPC and REC of Rs 215 Cr financial support
The support from NTPC and REC Foundation will cover the following: Grassroots development of the sports, training of identified talent, training of elite talent, coach development, sports science support, advance training and more. Image Credit: Twitter(@airnewsalerts)
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In the presence of Union Minister of Youth Affairs & Sports Sh. Anurag Singh Thakur and Union Minister of Power and New and Renewable Energy Sh. RK Singh, the National Sports Development Fund (NSDF) of Department of Sports, Ministry of Youth Affairs and Sports signed a historic Memorandum of Understanding (MoU) with two Public Sector Undertakings (PSUs) with NTPC (National Thermal Power Corporation) Foundation and REC (Rural Electrification Corporation) Foundation today in New Delhi for development of sports in India.

The financial support to be given by NTPC is Rs 115 Crores over the next 5 years and they will be supporting Archery discipline in India. REC Foundation has also committed an amount of Rs 100 Crores over 3 years to support Women's Hockey, Athletics and Boxing. The support towards NSDF has come through their Corporate Social Responsibility (CSR) mandate.

CMD of REC Vivek Kumar Dewangan and CMD NTPC Gurdeep Singh, DG SAI Sh. Sandip Pradhan, as well as athletes and coaches from Archery, Boxing, Hockey and Athletics disciplines, including Abhishek Verma (Compound Archery), Savita Punia (Women's Hockey), Amit Panghal (Men's Boxing) and Avinash Sable (Men's 3000m Steeplechase) were also present on this occasion.

Speaking on the occasion Shri Anurag Thakur said that two PSUs from the Power Ministry have contributed a total of Rs 215 crore for the development of sports, making it an historic occasion. This contribution by the Power Ministry will go a long way to energise the sports sector, he said. "Everyone, from the corporates to individuals and from various institutions to States, should work together as a team. This MoU signing will give a big motivation to our athletes .", Shri Thakur added.

"Earlier, I had urged online donations at NSDF, to adopt an athlete, a sport and an academy. Now, both NTPC and REC have adopted both sports and athletes. This has all happened because of the vision of the Prime Minister of India Shri Narendra Modi. There are many PSUs but the ones who come forward help in building soft power of India, help athletes keep away from addiction and also motivate them to perform higher at the international stage," added Shri Thakur.

The support from NTPC and REC Foundation will cover the following: Grassroots development of the sports, training of identified talent, training of elite talent, coach development, sports science support, advance training and more.

Elaborating on the MoU signed, Shri RK Singh mentioned, "We from the Power Ministry are extremely happy to have done something for the further development of sports in India, through NTPC and REC. We have adopted just a few sports disciplines today but going forward, we want to adopt more disciplines and continue in the development of more facilities and coaches. We promise that our Ministry will be associated in doing all possible in further development of sports in the country. Creating sports culture in the country is part of Nation building. "

The National Sports Development Fund (NSDF) was established in 1998 under the Charitable Endowments Act 1890 and was notified by the Government of India in November, 1998. The purpose of the fund is to impart momentum and flexibility to assisting the cause of sports in India. It helps sportspersons excel by providing them with varied opportunities to train under coaches of international repute, provide financial assistance for development of infrastructure and other activities for promotion of sports.

(With Inputs from PIB)

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