Having completed 10 years of its Parivartan initiative and spent over ₹5,100 crore in various Corporate Social Responsibility (CSR) projects across India, private sector lender HDFC Bank has announced to positively impact the lives of several lakh people by the next year.
Last week, the bank organised a visit to locations in and around Varanasi to showcase some of its projects. These include projects in Jamapur village and Sarthak Skill Centre in Varanasi city.
Stating that it had already positively impacted the lives of over 10 crore people mostly in rural India, the bank said its goals for 2025 include increasing the income of 5 lakh marginal farmers earning less than ₹60,000 annually, bringing two lakh acres of land under irrigation, supporting 25,000 community enterprises and improving education for 20 lakh students.
The other targets for next year include skilling nearly 2 lakh individuals to equip them with capabilities that drive self-sufficiency, development and support for 20,000 institutions to promote local economies, cultivation of 1 lakh acres of farmland to increase food security and rural income, and scholarships for 25,000 meritorious underprivileged students to improve access to education.
The bank said it had already surpassed its initial tree plantation target, with 38 lakh trees already planted against the FY25 goal of 25 lakh. The lender said since 2014, Parivartan has grown into one of India’s largest CSR programmes, active in 28 States and 8 Union Territories, making significant strides in areas of education, skill development, healthcare, and financial inclusion.
“Today, business performance for profit making enterprises stands redefined. Social impact is an integral part of business performance. HDFC Bank Parivartan comprises multiple programmes with a focus on giving back to the community as well as supporting sustainable development,” said Kaizad M. Bharucha, Deputy Managing Director, HDFC Bank, while interacting with presspersons.
“We believe that collaboration [with NGOs] is key. Economic and financial wellbeing of society is what every responsible lender should aspire for. Our commitment to this principle is underscored in our CSR programme,” he said.
Emphasising that the bank had been focusing on sustainable growth, especially in rural India, through the Holistic Rural Development Programme, Nusrat Pathan, CSR Head of HDFC Bank said, “With over 65% of India’s population residing in rural areas, we strongly believe that inclusive development can only be attained when the prosperity and livelihood in villages keeps pace with the growth. “We prioritise rural areas for our programme and currently 70% of our programmes are being implemented in such areas,” she added.
The bank said since its inception the programme has reached over 9,270 villages and more than 10 lakh households.
“The bank’s social outreach covers 85 out of the 112 aspirational districts in India, focusing on empowering marginalised communities, especially women, through targeted interventions,” it said.
(This writer visited Varanasi at the invitation of the bank)
Published - September 16, 2024 02:27 am IST
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
