Icici bank opens training academy as part of csr activities. Csr spend icici bank csr budgets have been fluctuating over the years. The csr committee shall ensure a transparent monitoring mechanism for csr activities. He has been instrumental in developing an integrated model for development at icici digital villages, exploring new markets as well as fostering key partnerships for market development for.
The banks contribution to social sector development includes several pioneering interventions, and is implemented through the involvement of stakeholders within the bank and the broader community. March 31, 2019 towards csr activities in fiscal 2020. Bank of india and one private sector bank namely icici bank and comparison of csr activities of these two banks. Icici foundation for inclusive growthmaharashtra csr. Icici foundation works within public systems and specialised grassroots organisations to support developmental work in four identified focus areas. Annual plan shall mean the annual planned csr expenditure for the financial year. March 31, 20, march 31, 2014 and march 31, 2015 towards csr activities. At march 31, 2016, icici bank had a network of 4,450 branches and a. The finance team under the chief financial officer shall be responsible for monitoring expense on csr activities with respect to the plan and submission of the same to the csr committee and the board. The csr policy of the bank sets the framework guiding the bank s csr activities.
Corporate social responsibility policy icici venture. Click here to view icici prudential lifes csr policy. Corporate social responsibility csr policy yes bank. Megha mehta 2014 the corporate social responsibility adopted by icici bank the present study focuses particularly on icici bank and it explores the three layers of csr activities for icici bank, are primary or elementary education, health at birth and microfinance. Location of csr efforts the csr committee will decide on the locations for csr activities. Swot analysis of icici bank icici bank swot analysis.
The company has taken several initiatives in the areas of preventive healthcare, road safety and disaster support being a responsible corporate citizen. Annual report 201920 business responsibility report icici bank. Pdf there has been an upsurge of socially responsible activities in the indian. Csr committee shall mean the corporate social responsibility committee of the board as constituted by the board of directors of the bank in accordance with the. The study here is conducted for bringing out the csr activities of banks in the country over the past five years in various areas by these two banks. Apart from providing skill development for youth focussing on wage employment opportunities, there is a significant need to improve livelihood opportunities for rural populations so that they can earn a sustainable livelihood in their ecosystem and do not need to migrate to cities. Corporate social responsibility policy icici prudential amc. Physical opening of our academies are subject to prevailing local conditions.
Icici bank s presence as on oct 2012, spans around 19 countries, including india. Compiled from table 1 in table 2, the selection of two cases by the researcher for the study is presented. Corporate social responsibility csr has been a longstanding commitment at icici bank and forms an integral part of icici activities. Icici bank limited established the icici foundation for inclusive growth icici foundation in 2008 with a view to significantly expand the icici. Table 1 clearly shows the total spendings of sbi from the year 200910 to 201516. Corporate social responsibilty of icici bank icici bank started its csr activities as.
The groups contribution to social sector development includes several pioneering interventions, and is implemented through the involvement of stakeholders within the company, the group and the broader community. Capacity building for corporate social responsibility icici foundation will continue to promote incubation of expertise for implementing corporate social responsibility. Findings and suggestions conclusion this paper useful researchers, banks authorities, government, shareholders and students also. The policy also sets out the rules that need to be adhered to while taking up and implementing csr activities. Capacity building for corporate social responsibility icici foundation will promote incubation of. The csr policy was approved by the committee in july 2014, and subsequently was put up on the bank s website. Saurabh singh, president, icici foundation for inclusive. The bank s primary focus areas for csr activities are. Icici bank offers premium quality service, unfolding a wide array of class products. In line with its commitment to investing in indias future and building the nations talent pool, icici bank views its corporate social responsibility csr initiatives as integral to its core mission of delivering value to its stakeholders. Deutsche bank corporate social responsibility corporate social responsibility policy deutsche bank group companies in india page 4 csr activities in india in line with deutsche bank groups global requirements to protect the bank s reputation and prevent the. A system will be put in place to maintain a transparent monitoring and reporting mechanism across all the stakeholders involved in the csr activities of the bank, as desired by the csr rules section 5, companies act, 20. Icici bank corporate social responsibility youtube.
Doc icici bank project report ankit gupta academia. The report also covers the operations of icici foundation for inclusive growth. Apr 30, 2019 icici foundation for inclusive growth icici foundation was founded by the icici group in early 2008 to carry forward and build upon its legacy of promoting inclusive growth. Feb 15, 2017 an overview of csr activities being perofrmed by icici bank limited 1. The bank s expenditures towards corporate social responsibility during fy2020 were broadly focused. The banks csr committee is chaired by an independent. Corporate social responsibility icici lombard has always endeavoured to go beyond its business focus and contribute to the wellbeing of all stakeholders, including the community at large. To ensure bestinclass skill training programmes, the academy has partnered with various industry leaders as knowledge partners to cocreate the course curriculum and content and has also setup laboratories for imparting practical training.
Keywords corporate governance, banking, disclosure, code of conduct, corporate social responsibility corresponding author. Icici bank, through its various csr initiatives has impacted lives of over 17 million individuals. The surplus arising out of the csr activities, projects or programs shall not form part of the business profit of the company. A system will be put in place to maintain a transparent monitoring and reporting mechanism across all the stakeholders involved in the csr activities of the bank, as desired by the csr rules.
Capacity building for corporate social responsibility icici foundation will promote incubation of expertise for implementing corporate. Icici foundation for inclusive growth icici foundation, the csr arm of the icici group, announced that it will donate over 100 dialysis machines to enhance the healthcare infrastructure in the country. Responsibility csr as percentage of profit after tax %. Corporate social responsibility bank of india believes that it is its foremost duty to contribute towards impacting the lives of various stakeholders like customers, employees, shareholders, communities and environment in a positive manner through all aspects of its operations, thereby serving the interest of. Jan 07, 2021 the bank established the icici foundation for inclusive growth icici foundation in 2008 with a view to significantly expand the activities in the area of csr. Icici bank has reduced energy consumption by nearly 20% in 3 years. View sumitra salians profile on linkedin, the worlds largest professional community. Csr has been a longstanding commitment at the icici group and forms an integral part of the companys activities. The bank s expenditures towards corporate social responsibility during fy2020 were.
Singh continues to implement the vision of icici group through steering the activities of icici foundation and driving integration with icici bank. The icici bank has made a huge amount of expenditure towards the corporate social responsibility in different ways related to different programmes of education, health, environment and many more are their which is shown in the below tables. The bank s csr activities are largely focused in the areas of education, health, skill development and financial inclusion and other activities like disaster relief or as the csr committee may choose to select in fulfilling the csr objectives. Corporate social responsibility icici prudential life. Jul 01, 2018 the total spending of the state bank of india and icici bank has been analyzed to study the trend of the expenditure of banks on the corporate social responsibility activities. The company will encourage employees to participate in csr activities of the company and or icici foundation. A brief outline of the companys csr policy, including overview.
The actual spend was noticeably lower than the prescribed amount for the past few years, as you can see in the graph. Corporate social responsibility in indian banking industry. Icici prudential life insurance company limited corporate. The banks csr activities are largely focused in the areas of education, health, skill development and financial inclusion and other activities like disaster relief or. The icici academy for skills offers industryrelevant and joboriented training in 11 technical and office skills. Nomura capital india private limited annual report on. The study is confined to one public sector bank, sbi and one private sector bank, icici and comparison of csr activities of these two banks. The exception to this pattern was 201718 when the csr spend matched the desired percentage from the profits.
Programs undertaken can be found in section 5 subsection c of this annual report on csr activities. Icici foundation along with icici bank launched the icici academy for skills rural initiative, a strategic initiative for economic inclusion of our villages and expanding the reach of the csr activities of the icici group to a wider community. March 31, 2018 towards csr activities in fiscal 2019. Every business requires efficient banking facilities to support its business activities.
The csr committee is the governing body that articulates the scope of csr activities and ensures compliance with the csr. Foundation or such other entityorganization as approved by the csr committee. The company supports the involvement of its employees in csr activities. Corporate social responsibility india policy deutsche bank.
The findings suggest that banks in india have increased their csr activities, which also. See the complete profile on linkedin and discover sumitras connections and jobs at similar companies. The bank supports the involvement of its employees in csr activities. The composition of the csr committee the bank s csr committee is chaired by an independent director. Csr committee shall mean the corporate social responsibility committee of the board as constituted by the board of directors of the bank. The bank s csr activities are largely focussed in the areas of education, health, skill development and financial inclusion and other activities as the bank may choose to select in fulfilling its csr objectives.
Education schedule vii ii promoting education, including special education and employment enhancing. The composition of the csr committee the corporate social responsibility committee csr committee of the board of directors board. Corporate social responsibility icici prudential life insurance. Icici bank csr policy corporate social responsibility. Icici bank swot analysis top icici bank competitors, stp. Read to lead is an initiative of icici bank to facilitate access to elementary education for underprivileged children in the age group of 314 years including girls and tribal children from the. His responsibilities included finance, treasury, corporate legal, operations, secretarial, cor. Icici foundation to donate over 100 stateoftheart dialysis machines the machines will be donated across 60 districts in 14 states mumbai. The csr committee is the governing body that articulates the scope of csr activities and ensures compliance with the csr policy. Corporate social responsibility activities the csr committee of the bank would consider and approve the projects or programmes that the bank should undertake as csr in india. The corporate social responsibility policy csr policy of icici prudential life sets out the framework guiding the companys csr activities. Over the last few years icici foundation has developed significant projects in specific areas, and has built capabilities for direct project implementation as opposed to extending.
Total spending on corporate social responsibility csr as percentage of profit. Icici bank social initiatives corporate social responsibility. The bank s csr policy has been framed in accordance with section 5 of the companies act 20 and the rules framed thereunder. Kannan joined icici limited in 1991 and has been with the icici group for over 29 years. For this reason, icici group decided to contribute 1. Framework of the icici bank limited corporate social. Acquirer bank merged bank date of merger 1 icici bank bank of rajasthan aug, 2010 2 state bank of india sbi state bank of indore aug 26, 2010 source. Icici banks core belief behind their csr projects is that there should be readily available access to opportunities for growth, across the entire society. Apr 05, 2019 icici bank is the first bank in india to introduce complete mobile banking solutions and jewelry card the bank has pan india presence of around 2,567 branches and 8003 atms icici bank is the first bank in india to attach life style benefits to banking services for exclusive purchases and tie ups with best brands in the industry such as. Introduction corporate social responsibility csr has been a longstanding commitment at icici bank and forms an integral part of our activities. Appropriate disclosures as prescribed under the companies act, 20 have been made in the annual 5.
Rural development and related activities csr projects india. The bank will encourage employees to participate in csr activities of the bank and icici foundation. A case study on corporate governance of icici bank ltd. The policy shall apply to all csr programs activities undertakensponsored by the bank or executed through axis bank foundation or through any other trustsociety or implementation partner or any. Corporate social responsibility csr has been a longstanding commitment at icici bank and forms an integral part of our activities. The data of five years is taken from the annual report of icici bank from the year 2008 to 20. Bank, which is to be spent or utilized for csr activities.
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