Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,971.8061.65
Stock Analysis, IPO, Mutual Funds, Bonds & More
Advertorial

"We participate in the social causes to address larger issues"

Rajkiran Rai G, MD & CEO, Union Bank of India, talks about how Union Bank Social Foundation has been working towards sustainable growth and development of social objective

Updated: Mar 22, 2018, 12.12 PM IST
0Comments
Both the bank and the community benefit from CSR initiatives. Do you subscribe to this?
We have always done our various CSR activities without expecting anything in return and such a belief is always been rewarded. Our foundation, in partnership with various NGO and government organisations, does all the CSR activity with conviction of doing a greater good for society. This helps the society in increasing its social value. Our bank, which has more than 4500 branches spread across length and breadth of the country, will benefit automatically if our society is happy.

Can you discuss your bank's CSR journey?
Use of CSR practice is part of this bank since inception. As you know the bank is inaugurated by the great leader and philanthropist Mahatma Gandhi and we have followed his path by doing various philanthropic activities like Village Adoption Scheme (Union Adarsh Gram), girl child adoption and many other such activities. In the year 2006, the Board of Union Bank had adopted a resolution to create a separate social foundation to channelise the CSR fund. After completing all the legal formalities Union Bank Social Foundation was registered as a trust in the year 2011 and started functioning independently as a trust in the name of Union Bank Social Foundation (UBSF) to undertake CSR activities of the bank. The foundation undertakes participation in the social cause for addressing larger issue viz. poverty, hunger, skill updating, community development and social justice. It synergises efforts of the bank and social sector agencies towards sustainable growth and development of social objective at a large. In the last six to seven years the foundation has successfully implemented more than 230 projects to the tune of `43.00 Crore under various sectors. The purpose of project clearly geared towards, community welfare, education, healthcare, human resources development, girl child and women empowerment, and environment protection. Union Bank Social Foundation showed its unflinching commitment to the objectives of corporate social responsibility (CSR) by creating enablers for social and community development, thereby helping the society to grow and become all inclusive.

What are the key focus areas for your bank's CSR projects?
Our focus areas are community welfare, education, healthcare, human resources development, girlchild and women empowerment, and environment protection, amongst other projects that we undertake.

What is the implementation method of CSR at your bank?
Our foundation is implementing projects through reputed NGO/trusts and government organisations.

What is your CSR team's strength?
The day-to-day operations of our foundation is looked after by Chief Executive and his team.

Are there any programmes in the world of CSR that you think are awesome?
We feel all programmes undertaken under CSR are for a good cause, and some way or the other, they give positive impact to the society. But an initiative of UN i.e. Gender Equality Certification Programme launched under United Nation Development Programme
(UNDP) for Asian Countries in the year 2016, is different than all other programmes. It has helped in promoting women's participation and recognition at work. These initiatives are a good start to an uphill challenge to eradicate gender inequality in society.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service