Tata Education and Development Trust, a philanthropic entity of the Tata Group, has decided to donate a whooping $50 million (about Rs 240 crore at current exchange rates) to the prestigious Cornell University in New York.

President David Skorton has called this donation coming from Tata as “one of the most generous endowments ever received from an international benefactor by an American university.”An agreement in this regard was signed by Ratan Tata, head of the Tata Group, and David Skorton, president of the Cornell University early this week. Ratan Tata is an alumnus of the university. Skorton made this announcement during the course of his State of the University Address on October 17.

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