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HDFC Bank spends Rs 635 cr, towards CSR including Covid relief in FY21

HDFC Bank spent Rs 634.91 crore towards #Parivartan, the umbrella programme for all Corporate Social Responsibility initiatives, in FY 2020-21

HDFC Bank | CSR | CSR spending


HDFC Bank ranked number 16 for overall equity deals business last year, and number 29 in 2019, according to data compiled by Bloomberg.

spent Rs 634.91 crore towards #Parivartan, the umbrella programme 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.

Further, the bank's #Parivartan has cumulatively impacted over 8.5 crore lives across India.

#Parivartan focuses on following identified areas:

Rural Development

Promote Education

Skill Training and Livelihood Enhancement

Healthcare & Hygiene

Financial Literacy and Inclusion

Key Sustainability highlights:

With outgo of Rs 634.91 crore in the last financial year, the Bank is one of the largest contributors of in the country.

Holistic Rural Development Programme (HRDP) in 1,970 villages in 21 states.

Under 'Teaching the Teachers (3T) initiative, in association with NGO partners, the bank has trained over 19.67 lakh teachers benefitting over 2.07 crore students.

#Parivartan has touched lives of 1.29 crore households in 28 states across 544 districts under Sustainable Livelihood Initiative (SLI).

Constructed over 23,500 toilets; Conducted 1,800+ sanitation drives; Organized 1.18 lakh+ health camps under HDFC Bank's WASH programme.

Financial Literacy Programme engaged more than 1.42 crore beneficiaries via 18.84+ lakh Financial Literacy Camps.

pledges to become carbon neutral by FY32 by:

The Bank aims to reduce its emissions, energy and water consumption.

Incorporate and scale up use of renewable energy in banking operations.

Focus on offering loans for green products at differential interest rates.

Incorporate ESG scores while making credit decision.

"As India's largest private bank, we are humbled to have been able to make a difference in the lives of people, in a year that was difficult for many," says Ashima Bhat, Group Head - Finance, Strategy, Administration, Infrastructure, ESG & CSR, . "HDFC Bank focuses on long-term sustainable initiatives that address the root cause of the problem as against any short-term relief. In a year that saw restrictions of many kinds due to Covid-19, the HDFC Bank team, including NGO partners, worked harder to remain committed to these initiatives and project goals. I want to take this opportunity to applaud them for their dedication. In the new FY, we'll continue the work with a renewed vigour."

The bank's social initiatives are aligned with United Nations (UN) Sustainable Development Goals (SDGs). The Bank's efforts under Sustainability and social change are in sync with the SDGs outlined by the UN. The Sustainability element in the Integrated Annual Report outlines the work undertaken by the Bank by engaging with the communities to work on reducing poverty, achieving zero hunger, providing clean water & sanitation, quality education, and creating sustainable cities and communities to name a few.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, July 08 2021. 18:36 IST