New Delhi, 25 October 2020: With a major focus on environment, education, rural development, healthcare and sports, IndusInd Bank has spent a whopping amount of Rs 108.15 Crore on CSR projects in the financial year 2019-20. This amount is almost the double of its CSR spend in FY 2018-19.
The average net profit of the company for the last three financial years stood at Rs 5,405.62 Crore. The prescribed expenditure for the company’s CSR activities was thus calculated as Rs 108.11 Crore. However, the company’s spend was a little over this prescribed budget with Rs 108.15, on various social causes. The prescribed CSR budget of a company is calculated as 2% of the average net profit of the past three years. Last financial year, the company had spent Rs 55.46 Crore out of its prescribed budget of Rs 88.62 Crore on various CSR projects.
"During the year 2019-20, the Bank has met the CSR spend requirement and spent an amount of Rs 108.15 crore towards CSR initiatives through various projects in the areas of environment (watershed development, afforestation, lake / pond rejuvenation), education, rural development and inclusiveness, skill development, preventive healthcare and sports," the company said in its annual report.
The major decisions of the company were taken by the CSR Committee which is headed by Akila Krishnakumar and other members of the committee which include Rajiv Agarwal, Sanjay Asher and Sumant Kathpalia. The committee met once during the financial year 2019-2020 on January 28, 2020.
Key expenditure areas:
| Sectors | Projects | Amount Spent (in Rs Crores) |
| Healthcare | Access to primary healthcare services | 29.09 |
| Enhancing vocational skills, promoting sanitation, | Waste management in villages, solar light in villages | 26.87 |
| Environment Sustainability | Urban afforestation, Solar-powered institutions, street lights | 15.39 |
| Education | Nutritional support with Mid-day meals, enhancing academic learning (Assisted learning, Road to School, Early Language Learning) | 17.47 |
Key projects
IndusInd Bank’s CSR mission is to emerge as a ‘Best-in-Class’ Bank committed to growth and development that benefits, not only the bank and its customers but also, the natural environment and the community at large. To this end, the Bank is guided by the principles outlined in the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGSEE) and the UN Global Compact.
Environment
Springshed Management: This intervention proposed in Rayagada, Kandhamal and Kalahandi districts of Odisha aims to conserve and utilise the perennial source of water through streams which otherwise would be untapped. In the 1st year of implementation, the project benefitted 170 households with four diversion based irrigation structures which will provide critical irrigation to the farmers and provide water for domestic purposes.
Drain Restoration: Badshahpur drain, Gurugram, was taken up to create public space, water conservation & recharge along with urban greening. This project also envisaged increasing the water table along with collateral of creating public space and giving engagement opportunities to the Bank’s employees.
Education
Road to School Project: During FY 2019-20, Bank initiated "Road To School " project in partnership with Learning Links Foundation for bringing a change in delivering the education especially to the children from Government School. The programme reaches to 10,915 children & 125 Teachers in 42 Government Schools & 10,000+ community members in Khurda district of Odisha.
IndusInd FFE Scholars: This programme runs on a unique concept wherein every scholar undertakes a pledge to support education of at least two other students through a contribution to the Foundation whenever they are able. This ‘pay-forward’ model ensures the self-sustainability of the organisation. IndusInd Bank supports 31 scholars for four years from the engineering background.
Young India Fellowship: IndusInd Bank supports deserving meritorious students through the Young India Fellowship (YIF) programme in partnership with Ashoka University, a one year full-time residential programme renowned for creating the next generation of leaders and change agents. 60% of the total pass-outs have joined the corporate sector, 30% are engaged in the not-for-profit sector and 10% have moved on to become entrepreneurs.
Livelihood
Indus Saksham: IndusInd Bank initiated skills training programme in various trades at Guwahati, Assam where 400 local unemployed youth are being trained. The programme aims at 100% placement ensuring income of `12,000 to `18,000 per month.
Stree Swabhiman Livelihood Programme: Under this initiative, around 4,500 girls were provided with supplies of sanitary pads in Madhya Pradesh through the Bank’s business correspondent Samhita. During the project, the supply of the pads was a bigger challenge. To resolve this challenge, 350 Village Level Entrepreneurs (VLEs) were engaged to set up units to manufacture pads across 100 districts in 16 states. These manufacturing set-ups engaged 6-8 women thus creating livelihood for over 1,800-2,000 women.
Sports
IndusInd Blind Cricket Programme: The programme is implemented in association with the Cricket Association for the Blind in India (CABI), the cricketing arm of Samarthanam, who governs Indian cricket tournaments. IndusInd Bank is principal supporter for 26 players in the Indian Blind Cricket Team. During FY2019-20, the Team won the bilateral ODI series against the West Indies and Nepal. Further, the Nagesh IndusInd Trophy was started to identify more talent. 400 blind cricketers participated in this trophy and played 60 matches in 12 States.
Nurturing Rural Champions Programme: In line with the Bank’s excellence and inclusive approach for sports, 55 young athletes i.e. 15 national level and 40 state /district level athletes are being supported in Mann for their training, nutrition, medical care, injury and recovery management, etc. and enable them to compete at the international arena.
