When dividends funded cancer cure of 2,000 patients

MUMBAI: MUMBAI: While health economists across the world scramble to devise ways to fund expensive cancer treatment for people, a group of 2,500 Indian investors have used their market dividends over the past five years to fund cancer treatment of 2,000 patients. Although, 2,000 is a drop in the Indian cancer patient pool that grows at 10 lakh new cases every year, the sum spent so far stands at an impressive Rs 50 crore--which is little less than what the Centre plans to spend on each hub earmarked for a smart city conversion.

These 2,500 investors waived off their dividends declared twice a year for HDFC Debt Fund for Cancer Cure (see box). Their dividendcum-donation was handed over to Indian Cancer Society (ICS), one of the oldest NGOs that work in the field of cancer care.

"In the first series that began in 2011, we managed to raise up to Rs 5 crore annually . In the second series that started two years ago, we have managed Rs 14 crore an nually," said Sunita Agarwal of ICS.

"Over 80% of those we have helped so far have been aged under 30. We have thus ensured that these young people can lead a normal life," said Usha Thorat of the Indi an Cancer Society .

Thorat, a former deputy Reserve Bank of India governor, added that less than 1% of the patients who gained from the scheme abandoned treatment.