HDFC Bank Boosts CSR Spend to Rs 945 Crore, Impacts 10 Crore Lives Through Parivartan Initiatives

HDFC Bank, a private sector bank, has reported a corporate social responsibility (CSR) spend of Rs 945.31 crore for the financial year 2023-24, which is an increase of nearly Rs 125 crore from the previous year. The bank’s CSR programme, called Parivartan, has been active for over a decade. Its initiatives are spread across 28 states and 8 Union Territories, impacting over 10 crore lives, as stated in the bank’s release.

The Parivartan initiatives have reached over 9,000 villages, impacting over 10 lakh households, as per the annual report. These initiatives have covered 85 out of the 112 districts identified in the Aspirational Districts Programme (ADP). Kaizad Bharucha, the Deputy Managing Director of HDFC Bank, emphasized the bank’s focus on rural development, education, skill enhancement, healthcare, financial literacy, and the environment, aiming to support sustainable and inclusive growth in the communities in which it operates.

The bank has impacted the lives of over 10 crore Indians so far. Through a participatory, bottom-up, and consultative approach, Parivartan focuses on creating sustainable impact within marginalized communities, especially women. The initiatives have facilitated the creation of over 9 lakh women entrepreneurs and the formation and revival of more than 10,000 Self-Help Groups (SHGs).

Additionally, the bank’s skilling programmes have trained over 3 lakh youth, providing essential vocational skills to enhance employability and create sustainable livelihoods. In its efforts towards promoting education, the bank has trained over 20 lakh teachers and supported 2.86 lakh schools, benefiting more than 2 crore students through remedial classes, learning camps, and scholarships for underprivileged children.