NEW DELHI: Tata Sons and Tata Trusts on Friday said they have set up 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 trust's philanthropic activities will also include medical treatment of those who suffered serious injuries and support for rebuilding the B J Medical College Hostel infrastructure, which was damaged in the accident.

On June 12, an Air India plane enroute from Ahmedabad to London crashed soon after takeoff, killing 260 people, including 19 on the ground.