The largest private sector bank HDFC Bank has set a target to increase the income of five lakh marginal farmers with an annual income of less than Rs 60,000 by 2025. HDFC will do this work under its Corporate Social Responsibility (CSR) initiative ‘Parivartan’.
Under the ‘Parivartan’
Corporate Social Responsibility (CSR) initiative, HDFC Bank will carry out this work. The bank’s emphasis on rural development, according to HDFC Bank Deputy Managing Director Kaizad M. Bharucha, “reflects our continued commitment to promote sustainable development and upliftment of vulnerable communities.” According to him, ‘Parivartan’ has grown to be one of India’s biggest CSR initiatives since its inception in 2014. There are 28 states and 8 union territories that are involved in this effort.
2014 saw the launch of the CSR scheme.
‘Parivartan’ HDFC Bank was established in 2014 to advance the socio-economic development of communities across the country. With a CSR expenditure of over Rs 5,100 crore over the last ten years, Parivartan has consistently aimed to empower individuals by providing sustainable livelihood opportunities and promoting sustainable development.  M. Bharucha added that as part of its CSR commitment, the bank intends to train roughly two lakh individuals in skills. Apart from this, there are also plans to start initiatives to increase irrigation facilities, improve agricultural productivity, and provide scholarships to meritorious underprivileged students.
In addition,
there are plans to launch programs to enhance agricultural output, expand irrigation capabilities, and offer scholarships to deserving poor students. Companies that practice Corporate Social Responsibility (CSR) integrate social and environmental issues into their daily operations. Said another way, corporate social responsibility (CSR) holds businesses accountable to the community.
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