Tannuka Juneja
In FY 2022, SBI an Indian multinational, public sector banking and financial services institution’s total CSR spend stood at ₹204.10 crore (1 percent of net profit of ₹20,410 crore for FY21), with ₹102.56 crore, allocated to SBI Foundation.
The priority areas of SBI’s CSR activities for FY 2022 include rural and slum development, healthcare and sanitation, education, environmental sustainability, tribal welfare, empowerment of women and senior citizens and supporting sports and athletes.
The bank has spent a total of ₹71 crore, or 35 percent of its total CSR budget to fight COVID-19. Apart from that most of the CSR activities take place in rural and urban slums, where people are in need of medical, education, food and housing assistance.
“The donations are not made based on caste, creed, religion and region. Donations are made to the underprivileged sections of the society, who are financially weak and need support from the donors for their sustenance,” the bank said in its annual report.
According to the report, 250 NGOs have participated in the implementation of socio-economic development projects. In a year, 380 CSR operations and initiatives were carried out. CSR activities were conducted in more than 3,886 villages, benefiting 1,97,551 people across India.
The beneficiaries of CSR include needy people from all sections of the community. The bank supports NGOs and Trusts, which work to uplift these sections of society. Its focus is on improving the socio-economic wellbeing of society, particularly of the less fortunate and underprivileged members, and enabling them to live up to the potential that they all possess, the bank said.
