Corporate Social Responsibility
Hon’ble Chief Minister, Maharashtra, Shri Eknath Shinde, receiving a CSR Grant towards Village Social Transformation Foundation (VSTF) from Shri Rakesh Sharma, MD & CEO, in the presence of Hon’ble Deputy Chief Minister, Maharashtra, Shri Devendra Fadnavis, Hon’ble Minister, Rural Development, Maharashtra, Shri Girish Mahajan, other dignitaries and senior executives of the Bank.
Corporate Social Responsibility
The erstwhile Industrial Development Bank of India (IDBI) was the apex institution for providing project finance to the industrial and infrastructure sector and a policy bank in the area of industrial financing and development. It also played a pioneering role in setting up the financial architecture of the country. Its commercial banking successor entity - today’s IDBI Bank - came into being on October 1, 2004.
Corporate Social Responsibility lies at the heart of all our activities since our establishment fifty years ago. It has been our guiding force long before it became a mandate. IDBI, in association with National Association for the Blind, established the NAB-IDBI Polytechnic for the Blind at Ambernath, Maharashtra in the year 1981. True to its image of a socially responsive organisation, IDBI constructed houses and access roads in Shirsal Tanda village in Latur, Maharashtra that was affected by a devastating earthquake in 1993. IDBI displayed the same level of responsiveness in times of natural calamities by providing immediate disaster relief in earthquake-hit areas of Gujarat (2001), tsunami-hit southern Indian states (2004), flash floods-hit state of Uttarakhand (2013) and the cyclone-hit Odisha (2013).
We have been progressively ramping up our activities in the CSR arena, both directly as well as in association with reputed organizations, in order to make a telling impact on targeted strata of society. Activities include, but are not limited to, collaborative long-term funding for projects designed advancement of vocational & employable skills, enhancement of livelihood opportunities for disadvantaged strata of the society, particularly women, across various states; rural electrification through solar street lights; financial aid for socio-economic empowerment of PwDs and other underprivileged sections of society, promotion of healthcare, improved access to health services and sanitation facilities, supplementing environmental sustainability, and holistic development of villages by undertaking planned interventions, etc. Our CSR activities are inclusive in nature and the beneficiaries spread across all sections of the community.