India, July 18 -- Tata Sons and Tata Trusts on Friday announced the formation of a Rs.500 crore welfare trust for the victims of the Air India plane crash. 'The AI-171 Memorial and Welfare Trust' has been registered in Mumbai.

Tata Sons and Tata Trusts have committed to contributing Rs.250 crore each to the trust for philanthropic purposes, including ex gratia payment of Rs.1 crore to the families of those who died in the crash.

The announcement comes over a month after 260 people were killed in Air India Flight AI-171 crash in Ahmedabad.

The trust's activities will include medical treatment of those who suffered serious injuries and support for rebuilding the BJ Medical College Hostel infrastructure, which was damaged in the crash.

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