
Private sector HDFC Bank has reported a CSR spend of Rs 945.31 crore for the financial year 2023-24, marking an increase of nearly Rs 125 crore from the previous year.
Parivartan Programme Impact
The bank’s CSR programme, Parivartan, has been active for over a decade. Its initiatives, spread across 28 states and 8 Union Territories, have impacted over 10 crore lives. These efforts have reached over 9,000 villages and impacted over 10 lakh households.
Aspirational Districts Programme (ADP)
Parivartan initiatives have covered 85 out of the 112 districts identified in the Aspirational Districts Programme (ADP).
Focus Areas
According to Kaizad Bharucha, Deputy Managing Director of HDFC Bank, the bank addresses critical areas such as rural development, education, skill enhancement, healthcare, financial literacy, and the environment to support sustainable and inclusive growth in the communities where it operates.
CSR and ESG Impact
Bharucha, who also oversees CSR and Environmental, Social, and Governance (ESG) functions, highlighted that the bank has positively impacted the lives of over 10 crore Indians.
Community Approach and Women Empowerment
Parivartan employs a participatory, bottom-up, and consultative approach to create sustainable impacts 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).
Youth Skilling Programmes
The bank’s skilling programmes have trained over 3 lakh youth, providing essential vocational skills to enhance employability and create sustainable livelihoods.
Educational Support
In its efforts to promote education, HDFC Bank has trained over 20 lakh teachers and supported 2.86 lakh schools, benefitting more than 2 crore students through remedial classes, learning camps, and scholarships for underprivileged children.