As Corporate Social Responsibility (CSR) becomes an integral part of modern businesses, many organisations have also successfully integrated it into their culture. SMFG India Credit exemplifies this ethos through its impactful initiative, “Ek Mutthi Chawal.” As one of India’s leading non-banking financial companies (NBFCs) and a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), the organization integrates social value creation into its core operations. Launched in 2019, the flagship initiative embodies SMFG India Credit’s mission to foster community welfare and uplift underprivileged sections of society.
In its fifth edition, the initiative has mobilized over 12,000 employees across 21 states to contribute 60,000 kilograms of food grains, benefitting approximately 20,000 children and elderly individuals. Partnering with trusted NGOs, the program ensures transparency and efficient distribution to maximize its impact. Rooted in the joy of giving, the initiative aligns with SMFG India Credit’s broader goal of driving holistic growth and meaningful change in society.
In this interview, Mr. Swaminathan Subramanian, COO of SMFG India Credit, delves into the vision, execution, and long-term aspirations of “Ek Mutthi Chawal.”
Scroll down for the full interview:
Q. What is the overall vision and mission of SMFG India Credit, and how does the “Ek Mutthi Chawal” initiative align with these goals?
A. SMFG India Credit’s mission is to drive financial inclusion by enabling aspirations, enriching communities, and fostering innovation in everything we do as a responsible financial services partner. Since the company’s inception in 2008, SMFG India Credit has believed in giving back to the society through its employee centric CSR initiatives before it became mandatory by the government in 2014. This longstanding commitment towards the betterment of our society is embedded in the company’s DNA, and is integral to our business model itself.
“Ek Mutthi Chawal” is one of our employee centric initiatives which aligns closely with our mission by addressing food insecurity, providing essential nutrition to underprivileged children, and supporting the elderly. Through this initiative, SMFG India Credit reinforces its commitment to creating social value and giving back to society.
Q. How does SMFG India Credit measure the impact of its CSR initiatives, particularly “Ek Mutthi Chawal”? Are there specific metrics or KPIs used to assess the program’s effectiveness?
A. Ek Mutthi Chawal is an employee volunteering initiative with the sole objective of creating and spreading happiness in the festival season around Diwali. As an organization, we believe in the upliftment of communities in entirety, focusing on holistic growth. For this 5th edition, SMFG India Credit employees expressed their “joy of giving” and distributed over 60,000 kg of rice, grains, and pulses, benefiting thousands of underprivileged children and the elderly.
Q. How does SMFG India Credit ensure the transparency and accountability of the “Ek Mutthi Chawal” initiative, from the collection of donations to their distribution to beneficiaries?
A. SMFG India Credit ensures transparency by partnering with trusted NGOs across the country. All contributions go directly to the NGO, which have kitchens that serve meals and preferably a boarding facility for children and the elderly. Each NGO’s acknowledgment of the donation is registered and Along with proposed end use. Moreover, our employee volunteers oversee the activity first hand.
Q. What strategies does SMFG India Credit employ to motivate and engage employees in participating in the “Ek Mutthi Chawal” initiative?
A. Over the years, the company has dovetailed employee engagement successfully with its CSR agenda. “Ek Mutthi Chawal” is timed with Diwali celebrations being mindful of the community we serve.Extensive communication to employees through emails, standees, and banners displayed across offices and branches ensures high awareness and excitement resulting in strong participation. The steady increase in employee participation, from 5,000 to over 12,000, reflects a deep commitment to promoting the initiative and its values, with every contribution helping to make a meaningful impact on children and the elderly. With more than 60% employees participating across the country itself signifies the deep root engagement and purpose around this cause.
Q. How does SMFG India Credit collaborate with NGOs and other organizations to maximize the impact of the “Ek Mutthi Chawal” initiative?
A. SMFG India Credit partners with NGOs across the country, which serves as a distribution channel, ensuring food donations are efficiently provided to children and elderly people in need. This collaboration ensures that the program reaches its intended beneficiaries with reliability and impact. The involvement of SMFG’s parent company in Japan, contributing through their “Shaka Kaichi Day” celebration, further strengthens the initiative’s reach and impact, showcasing a unified effort towards global social responsibility.
Q. What are the long-term goals of the “Ek Mutthi Chawal” initiative? How does SMFG India Credit plan to sustain and scale this program in the future?
A. The “Ek Mutthi Chawal” initiative has grown annually, both in terms of contribution volume and employee participation. From a donation of 20,000 kgs in its first year to 60,000 kgs this year, the initiative has become increasingly popular among employees. With our parent SMFG also joining hands and contributing an additional 20,000 kgs of grains, we are committed to expanding the initiative further and strengthening our impact on this social cause.
Q. As a leading NBFC, how does SMFG India Credit balance its financial goals with its social responsibilities?
A. SMFG India Credit integrates social responsibility as a core component of its business values, balancing financial growth with initiatives like “Ek Mutthi Chawal” that support community welfare, thereby achieving “Fulfilled Growth” By fostering an environment where employees are encouraged to contribute to social causes, the company nurtures a culture of shared purpose and impact. This balance is essential to SMFG India Credit’s mission, as it continues to achieve business milestones while staying committed to giving back to the society.
Q. What are the key factors that contribute to SMFG India Credit’s success in the Indian market, and how does the company differentiate itself from competitors?
A. SMFG India Credit’s success in India is driven by its commitment to financial inclusion, community welfare, an employee-centric culture. We remain committed to moving ahead with the ‘fulfilled growth’ vision of our parent company SMFG, focusing on sustainable development and inclusive prosperity. The company’s focus on underserved areas, semi-urban recruitment distinguishes it from competitors by demonstrating commitment to economic growth in areas it operates in. The company’s integration of social impact with business goals and a strong collaborative approach further solidifies its reputation in the NBFC sector.
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