Tatsat Chronicle Magazine

State Bank Of India Spends Rs. 204.10 On Corporate Social Responsibility Projects in FY22

July 16, 2022
State Bank of India

In FY 2022, the State Bank of India spent Rs. 204.10 crores on its CSR initiatives. The initiatives which were focused on Rural and Slum area development, Health Care and Sanitation, Education, Environment Sustainability, and Tribal Welfare, Empowerment of Women and Senior Citizens and supporting sports and athletes.

SBI Foundation is the CSR arm of SBI Bank. Through the Foundation, the Bank is making a paradigm shift in the socio-economic development of the country by creating an inclusive, sustainable and self-sufficient ecosystem through which marginalised and underserved communities from across the country can lead healthier and prosperous lives without discrimination based on region, religion, caste, creed or gender. For FY2022, 105 projects were sanctioned, with a budget of Rs. 168.09 crores.

During FY 2021-22, 62 projects for Rs. 99.37 Cr were sanctioned towards Covid 19 and healthcare initiatives like COVID Care center’s/ICU facilities, Genome Sequencing, upgrading health infrastructure, Initiatives in partnership with NGOs, and other initiatives like UPI based prepaid vaccination vouchers, vaccination hesitancy removal, etc. 6 oxygen generation plants along with 550 Oxygen Cylinders and 84 oxygen concentrators were also provided. An Oxygen Pipeline Extension (2000 LPM) and Oxygen Monitoring System to equip 115 beds with oxygen supply was installed at Dr. Hedgewar Charitable Hospital.

Thirteen projects for Rs. 22.53 Cr were sanctioned to support various initiatives like Prambhik Bhasha Shikshan Programme, Transforming schools and anganwadis in Ladakh, web-based literacy project, Mathematics education with Khan Academy, Toy Bank, Effective governance through School Complexes, Setting up Mini Science center’s, Quality education in Middle School grades, Capacity building of teachers and educational stakeholders, Inclusive education for children with Neuro-development disorder, support National Integrity and Educational Development Organisation (NIEDO), Tata Institute of Social Sciences (TISS) to build a coherent school mental health system for improving mental health outcomes of adolescents in India and support the ‘Model School’ initiative for renovating 11 Government Schools and providing a conducive and comprehensive learning environment for the students.

Apart from the above initiatives, the bank also dedicated its CSR energy for areas such as livelihood, entrepreneurship, women empowerment, environment & sustainability, and promotion of sports. As per the Bank’s annual report, eight projects at a financial cost of Rs. 13.60 Cr were sanctioned to support initiatives like SBIF Revolving Fund to provide Incubation support to social enterprises, Integrated Fish Farming promotion, Mega Watershed construction, Wadi Agriculture and incubation support to 15 start-ups, Training of 5000 youths in Banking Financial Services Insurance (BFSI) industry Job Roles and TISS Prayas to re-integrate and rehabilitate the socially excluded and stigmatised population in criminal and juvenile justice system etc.

For promoting sports, two projects for Rs. 48.90 lakhs were sanctioned to support 13 Athletes in partnership with Abhinav Bindra Foundation Trust and Karnam Malleswari Foundation by the Bank.