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Hero Cycles earmarks Rs 100 Cr contingency fund to deal with coronavirus pandemic

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Hero Cycles, on Tuesday, said it is setting aside Rs 100 crore as a contingency fund to address and mitigate the impact of coronavirus pandemic on partners and the community at large. Hero Cycles also exports to various countries in Middle East, Africa, Asia and Europe. Hero Motor Company’s international subsidiaries are undertaking a similar exercise in the UK & Germany where they have significant presence. Hero Cycles has also set up an emergency monitoring cell headed by Pankaj Munjal to closely monitor the economic repercussions of the pandemic and, its impact on the organisational supply chains. The organization has therefore mandated work from home for all possible functions and is ensuring business continuity through its state-of-the-art IT systems.

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