The bank plans to provide skill training for nearly 200,000 individuals to equip them with capabilities that drive self-sufficiency.
HDFC, Banking, Bank
The bank aims to develop and support 20,000 institutions to promote local economies and sustainable livelihoods. (Image/PTI)
HDFC Bank aims to boost the income of 500,000 marginal farmers earning less than Rs 60,000 annually by 2025, as part of its corporate social responsibility (CSR) initiative, Parivartan. The announcement comes as the country’s largest private bank commemorates 10 years of Parivartan, which has already positively impacted the lives of over 10 crore people across India.
Since its inception in 2014, Parivartan has expanded to become one of India’s largest CSR programs, operating in 28 states and 8 Union Territories. It has made significant strides in key areas such as education, skill development, healthcare, and financial inclusion, aligning its efforts with 9 of the 17 United Nations Sustainable Development Goals (SDGs). With CSR expenditure of over Rs 5,100 crore over the last decade, Parivartan has consistently aimed to empower individuals by creating sustainable livelihoods, fostering sustainable development, and creating real-life change.
short article insert“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. “We believe that collaboration 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,” said Bharucha.
Unequivocally, the business of banking is underpinned by trust and as a responsible lender, and the bank stands committed to contributing to nation building, he added. In FY23-24, Parivartan initiative has engaged with over 150 NGO partners and implementing agencies.
“With over 65% of India’s population residing in rural areas, we strongly believe that inclusive development can only be attained when the prosperity and livelihood in villages keeps pace with the growth,” said Nusrat Pathan, head – CSR, HDFC Bank. “We prioritise rural areas for our programme and currently 70% of our programmes are being implemented in such areas,” she added.
HDFC Bank has outlined several key objectives to be achieved by 2025. The bank plans to provide skill training for nearly 200,000 individuals to equip them with capabilities that drive self-sufficiency. The bank aims to develop and support 20,000 institutions to promote local economies and sustainable livelihoods. It plans to promote 25,000 community-led enterprises, with 50% being women-led.
HDFC Bank aims to bring 200,000 acres of unirrigated land under irrigation, fostering agricultural productivity. They also plan to cultivate 100,000 acres of farmland to increase food security and rural income. Scholarships will be provided to 25,000 meritorious underprivileged students to improve access to education.
Additionally, they have surpassed their initial tree plantation target, with 38,00,000 trees already planted against the FY25 goal of 25,00,000. Since its inception, HDFC Bank Parivartan has reached over 9,270 villages and more than 10,00,000 households