Kanpur (UP), May 17 : IIT Kanpur has raised over Rs one crore by way of donations from around 650 contributors for providing financial aid to students who are facing medical emergencies. Some of the students who approached the IIT-K authorities needed money for treatment of their family members. The initiative, according to IIT-K director Prof Abhay Karandikar, was started on May 1 but the portal for this was launched on May 5. Students can send their requests at the portal. "We had been receiving requests for help from students and so we decided to set up a relief fund. Our target is to raise Rs five crores," he said. He explained that there are over 8,300 students at IIT K and is even 500 need financial help of Rs one lakh each, a corpus fund of Rs five crores is needed. The IIT K director said that he had reached out to alumni and well-wishers through the social media and the response was overwhelming. The IIT -K has set up a committee headed by dean students' affairs and dean of resource and alumni, student president and two representatives of the alumni community to evaluate each request and decide on the beneficiaries. The committee will meet virtually to review the requests. The decision on appeals will then be communicated to the applicants and the funds will subsequently be transferred to them. The IIT-K director said that the second wave of the pandemic had caused immense financial distress to students and their families. Covid related health issues may require large sums of money at short notice and it may be difficult for many to arrange for this at short notice. "The purpose of this fund is to provide immediate assistance for medication, food and other such issues. /IANS