Mumbai, July 18, KNT: HDFC Bank reported an expenditure of Rs 945.31 crore on corporate social responsibility (CSR) initiatives for the Financial Year 2023-24 in the Integrated Annual Report for the year. This represents an increase of almost Rs 125 crore over the previous fiscal year.
Under the umbrella of its CSR brand, Parivartan, HDFC Bank’s initiatives have thus far impacted 10.19 crore lives, reaching over 9,000 villages and more than 10 lakh households, including coverage in 85 out of 112 districts identified in the Aspirational Districts Programme (ADP) of the Government of India.
The Bank initiatives include natural resource management, school infrastructure development, agricultural support, soil and water conservation, and healthcare projects to improve the quality of life in rural India through its Holistic Rural Development Programme and Focused Development Programmes.
The Bank has reached over 2 crore students till date for initiatives that focus on improving the quality of education through teacher training, scholarships, career guidance, and infrastructural support to schools.
Vocational training and skill development programmes aim to enhance employability and create sustainable livelihoods.
Over 1.87 lakh people have benefitted from health camps held up to March 31, 2024.
Financial literacy camps and workshops educate individuals on banking, savings, and financial planning to promote financial inclusion.
The Bank has committed to achieving carbon neutrality for Scope 1 and Scope 2 emissions by FY32.
Kaizad Bharucha, Deputy Managing Director of HDFC Bank, said, “Our CSR initiatives under Parivartan reflect our commitment to holistic development. Our goal is to drive economic and social development by empowering communities across the country. By addressing the critical areas of rural development, education, skill enhancement, healthcare, financial literacy, and the environment, we aim to create sustainable and inclusive growth in the communities in which we operate.” Mr. Bharucha also manages Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) functions in addition to his other responsibilities. [KNT]
