
HDFC Bank, India’s largest private sector bank, spent Rs 945.31 crore on corporate social responsibility (CSR) activities in the past fiscal year. This is nearly Rs 125 crore more than the previous year.
Through its CSR brand, Parivartan, HDFC Bank’s initiatives have positively affected 10.19 crore lives. The programs reached over 9,000 villages and more than 10 lakh households, including 85 out of 112 districts targeted by the Indian government’s Aspirational Districts Programme (ADP).
Creating Sustainable Livelihoods
Parivartan focuses on creating sustainable livelihoods for marginalized communities, especially women. It operates across 28 states and 8 Union Territories.
“Our CSR efforts promote financial literacy, support entrepreneurship, protect the environment, and advance social inclusion,” said the Bank’s Integrated Annual Report.
Initiatives
HDFC Bank’s initiatives include natural resource management, school infrastructure development, agricultural support, soil and water conservation, and healthcare projects to improve the quality of life in rural India.
“Our CSR activities under Parivartan show our commitment to overall development,” said Kaizad Bharucha, Deputy Managing Director of HDFC Bank. “We aim to drive economic and social progress by empowering communities across the country. By focusing on rural development, education, skill enhancement, healthcare, financial literacy, and the environment, we strive to create sustainable and inclusive growth in the communities we serve.”
Impact of the Initiatives
The bank has reached over 2 crore students with initiatives to improve education quality through teacher training, scholarships, career guidance, and school infrastructure support. Its vocational training and skill development programs aim to enhance employability and create sustainable livelihoods. By March 31, 2024, HDFC Bank has created over 9 lakh women entrepreneurs and trained over 3 lakh youth.
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