Transforming Lives Through Social Initiatives: HDFC Bank Spends Rs. 736 Cr in CSR in FY 2022
New Delhi: As part of its commitment to transform lives of people through social initiatives, India’s leading private sector lender HDFC Bank has spent whopping Rs. 736 crores towards the Corporate Social Responsibility (CSR) initiatives in 2021-22 financial year. Under the umbrella of CSR model ‘Parivartan’, the bank works towards the empowering the most deprived [...]
New Delhi: As part of its commitment to transform lives of people through social initiatives, India’s leading private sector lender HDFC Bank has spent whopping Rs. 736 crores towards the Corporate Social Responsibility (CSR) initiatives in 2021-22 financial year.
Under the umbrella of CSR model ‘Parivartan’, the bank works towards the empowering the most deprived sections of the society.
The financial institution has aligned its efforts in direction of a ‘people-centric’ restoration by means of multi-dimensional interventions throughout livelihood, talent improvement, training, well being, and pure assets.
Parivartan has been a catalyst in making a difference in the lives of people through its interventions in the areas of rural development, education, skill development and livelihood enhancement, healthcare & hygiene and financial literacy.
The lender has spent Rs. 12.53 crore on Administrative Overheads on CSR administration. It has overachieved its 2% necessary CSR obligation for FY 2021-22. Hence, an unspent steadiness of Rs. 0.86 Cr. towards the surplus fund disbursed is not going to be transferred to the unspent CSR account for FY 2021-22 and the identical will likely be handled because the opening steadiness for FY 2022-23, according to reports.
Through its CSR activities under the flgship Parivartan programme, HDFC Bank has impacted over 9.6 crore lives in 3335 villages in 24 states, including Assam, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Maharashtra, Meghalaya, Madhya Pradesh, Odisha, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and Tamil Nadu.
HDFC Bank had spent Rs 634.91 crore towards Parivartan for all Corporate Social Responsibility initiatives, in FY 2020-21.
Out of Rs 634.9 crore, over Rs 110 crore was allocated and utilised towards initiatives focused on Covid-19 relief.
The Parivartan programme has cumulatively have impacted over 8.5 crore lives across India.
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