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HDFC Bank to develop 1,000 villages under CSR by FY19

As per the companies law, corporates have to spend 2 per cent of average profit of previous three financial years under CSR

Press Trust of India 

The headquarters of India's HDFC bank is pictured in Mumbai, India
The headquarters of India's HDFC bank is pictured in Mumbai, India

today said it aims to transform lives in 1,000 villages by March 2019 as part of its (CSR).

Under the (HRDP), the has already empowered 750 deprived villages across the country in the last two-and-half years. The latest village in this chain is Umpathaw in the state.


"The has a board mandate to cover 1,000 such villages by March 2019. This initiative has so far impacted the lives of over 10 lakh people in 16 states across the country," Deputy Managing Paresh Sukthankar said here.

HRDP seeks to better life in villages by focussing on improvements in five areas like education, water and sanitation and financial inclusion.

The claimed that 550 inhabitants of Umpathaw now have access to potable water and a smart school with clean toilets.

"At Bank, we believe that for to achieve inclusive growth, our villages must grow in tandem with cities. Through HRDP, we are doing just that by creating sustainable communities in remote pockets of the country," he said.

Through HRDP, the is creating an ecosystem to improve the overall economic and social conditions in rural India, he added.

The bank, he said, has been increasing its CSR spent and making changes in the life of people across various states.

Last year, spent Rs 305 crore and plan is afoot to raise this to Rs 365 crore this fiscal, he said.

During 2015-16, the spent about Rs 248 crore under CSR.

As per the companies law, corporates have to spend 2 per cent of average profit of previous three financial years under CSR.

First Published: Thu, November 23 2017. 16:05 IST
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