Money & Banking

HDFC Bank’s CSR spend rises 20% to ₹444 crore in FY19

Our Bureau Mumbai | Updated on August 14, 2019 Published on August 14, 2019

HDFC Bank claimrd that it has impacted over 5 crore lives through its social initiative "Parivartan”. File Photo   -  Bloomberg

HDFC Bank on Wednesday said its expenditure on corporate social responsibility (CSR) in FY2019 was at ₹443. 8 crore, 20 per cent more than the previous year.

In its first Integrated Report, the private sector bank claimed that it has impacted over 5 crore lives through its social initiative "Parivartan" as on March 31, 2019.

With over 96 lakh beneficiaries - all women - Sustainable Livelihood Initiative (SLI) has been the single biggest contributor to impacting over 5 crore Indians, the Bank said in a statement. “This is equivalent to 3.84 crore individuals (96 *4 per family). Under SLI, women are given occupational skills training, financial literacy, and credit counselling in addition to credit through Self-Help Groups or Joint Liability Groups,” it added.

With 15 lakh teachers and a potential 1.6 crore students, ‘Teaching–the–Teacher’ programme has been the second-biggest contributor. The rest came from the Holistic Rural Development Programme, Healthcare & Hygiene, and Skills Training & Livelihood Enhancement Initiative (excluding SLI beneficiaries).

Published on August 14, 2019
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