HDFC Bank’s CSR spend at Rs 736 crore in FY2022
Mumbai, July 22, 2022: HDFC Bank was among the top CSR spenders in the country for the financial year ended March 2022. As reported in its Integrated Annual Report 2021-22, the Bank spent Rs 736 crore on CSR initiatives, a 15.92% increase over the previous year. The Bank also expanded its impact by reaching more than 9.6 crore beneficiaries.
The Bank seeks to make a difference in the quality of life of the communities in which it operates through Parivartan, its umbrella brand for CSR. The Bank’s initiatives under Parivartan, which means change, are overseen by a Board-level CSR & ESG committee, which tracks their progress on a regular basis. The Board approved initiatives are aligned with Government missions and programmes.
The Bank works in the broad areas of Education, Skill training and livelihood enhancement, Health Care, Sports, Environmental Sustainability, and Rural Development, with an aim to contribute towards the socio-economic development of the country.
Ashima Bhat, Group Head – Business Finance & Strategy, Administration, Infrastructure, ESG & CSR said, “HDFC Bank, is committed to long-term sustainable growth and has adopted sustainability as a core value. Our vision is to have a meaningful impact on society, while contributing to global sustainable development goals. Through sustained programmes in the areas of education, hygiene, livelihoods, and skill development we have impacted over 9.6 crore Indians. We are also committed to become carbon neutral by the FY32 and reduce our emissions, energy, and water consumption. Together with our stakeholders, we are building the bank of the future that can stand the test of time.”
The Bank’s social initiatives are also aligned with the Sustainable Development Goals (SDGs) set up in 2015 by the United Nations General Assembly, particularly the goals around reducing poverty, achieving zero hunger, providing clean water and sanitation, quality education, and building sustainable communities.
Key Highlights of Parivartan:
- Transformed lives of 9.6 crore Indians under #Parivartan
- Benefited over 9.88 Lakh households 3,335 villages in23 states through its Holistic Rural Development Programme (HRDP)
- Trained over 19.94 lakh teachers
- Impacted 2.09 crore students.
- Developed 10,500+ water conservation structures and installed over 41,810+ solar lights in rural India
- Planted 17.69 Lakh+ trees which has helped increase groundwater levels
- Trained 8.08 lakh+ women entrepreneurs and trained ~8,470 SHGs in rural India with the goal of empowering women
- Constructed over 23,800 toilets, conducted over 1,810 sanitation drives and over 1.18 lakh health camps.
- Financial Literacy Programme engaged with more than 1.71 crore beneficiaries via over 23 lakh Financial Literacy Camps
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.