HDFC Bank, India’s largest private sector 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 Rs125 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.
Focused on creating sustainable livelihoods for marginalised communities, especially women, Parivartan operates across 28 states and 8 Union Territories.
“From promoting financial literacy and supporting entrepreneurship to championing environmental conservation and advancing social inclusion, our CSR efforts are guided by a
steadfast commitment to creating lasting change in the communities we serve,” stated the
Bank’s Integrated Annual Report.
Mr. 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.
A participatory, bottom-up, and consultative approach helps HDFC Bank curate programmes that address the specific needs and circumstances of its targeted beneficiaries. The Bank collaborates with a wide network of NGOs, partners, and employee volunteers to implement its sustainable development initiatives.