SBICAPS Partners with Maharashtra Govt to Support Education of Under-Privileged Children

Mumbai, March 01, 2024: As part of its Corporate Social Responsibility initiatives, SBI Capital Markets Limited (SBICAPS) the wholly owned investment banking subsidiary of State Bank of India (SBI) has partnered with the Maharashtra government under the Chief Minister’s ‘Janakalyan Kaksha’.

Under the programme, SBICAPS along with its NGO partner Sahakar Deogiri Foundation - a Mumbai based NGO have entered into an agreement to distribute multi utility, portable desk bags to over 3000 under-privileged children of Anganwadi’s across Thane and Palghar districts. This initiative was launched in Mumbai by Maharashtra Chief Minister Eknath Shinde along with officials from the CM's Janakalyan Kaksha, and Virendra Bansal - MD & CEO, SBICAPS and other company representatives.

According to SBICAP officials, the multi utility desk bags have been designed to address the lack of infrastructure at anganwadis in terms of inadequate seating arrangements, broken furniture, and an overall lack of favourable learning spaces. These bags are proposed to directly counteract these challenges by providing a practical and effective solution that transcends the limitations of existing infrastructure, address physical discomfort and ergonomic issues, enhance the overall learning environment and contribute to improved focus and participation among students.

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Students from the economically weaker sections face challenges in accessing basic learning resources. The desk bags act as a leveller, providing an essential tool for education that is lightweight, easy to carry, and, importantly, addresses economic disparities.

The Maharashtra Government under the ‘CM-Jan Kalyan Kaksha’ has set up a CSR Cell to channel CSR funding through corporates in Maharashtra. This Cell has prepared an integrated CSR Plan based on various social needs in the state, across various areas like women empowerment, support to sections of agriculture sector/farmers, health care, education etc.

SBICAPS works across the country in areas of healthcare, education, environment and poverty alleviation as part of its CSR activities.