HDFC Bank invests ₹5,100 crore in CSR projects impacting over 10 crore people, puts ambitious target for 2025
The Hindu
HDFC Bank's Parivartan initiative aims to positively impact lives through CSR projects across India, focusing on rural development.
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.
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