HDFC Bank releases first-ever 'integrated' report; Parivartan, execution, governance top 3 value creators
HDFC Bank has released its first-ever Integrated Report. Parivartan, execution, and governance are the top 3 value creators for the bank.
HDFC Bank has released its first-ever 'Integrated' Report. Notably, Parivartan, execution, and governance are the top 3 value creators for the bank and its stakeholders in this integrated report. It has disclosed that the Bank has impacted over 5 crore lives through its social initiative 'Parivartan' as on March 31, 2019. An Integrated Report gives a holistic picture of the value created for not just shareholders but all its stakeholders including customers, employees, and society at large.
Speaking on the integrated HDFC Bank report Shyamala Gopinath, Chairperson, HDFC Bank said, “We join a select club of corporates in India, who have adopted Integrated Reporting. This is a global best practice but not yet mandatory in India. It is heartening to see the Bank continuing to strive to adopt the highest standards of disclosure and reporting. All our stakeholders and not just shareholders will now be able to see the value we have created for them in one place. Especially through Parivartan which works at the very foundation of human life to bring about positive change.”
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Commenting on Parivartan — HDFC Bank's CSR initiative — report Ashima Bhat, Group Head-CSR, Business Finance & Strategy Administration and Infrastructure of HDFC Bank said, “Parivartan is our way of making a difference in the lives of millions of people across the country. We are trying to bring about holistic, sustainable, long-term impact in their lives helping them as well as the nation progress. We take this opportunity to reaffirm our commitment to all our stakeholders.”
With over 96 lakh beneficiaries — all women — Sustainable Livelihood Initiative (SLI) has been the single biggest contributor to impacting over 5 crore Indians. This is equivalent to 3.84 crore individuals (96x4 per family). Under SLI, women are given occupational skills training, financial literacy, and credit counseling in addition to credit through Self-Help Groups or Joint Liability Groups.
Source: HDFC Bank
With 15 lakh teachers and a potential 1.6 crore students, ‘Teaching–the–Teacher’ programme has been the second-biggest contributor. The rest came from the Holistic Rural Development Programme, Healthcare & Hygiene, and Skills Training & Livelihood Enhancement Initiative (excluding SLI beneficiaries).