State Bank Group to spend 2% of profit on CSR: Bhattacharya

Tags: News
State Bank of Bank Chairperson Arundhati Bhattacharya today said it would be endeavor of the Group to spend two per cent of the annual net profit on CSR activities in each financial year.

She said earlier the bank spent one per cent of the profit on activities under the corporate social responsibilities.

"It would be our effort to spend two per cent of profit on CSR from this year," she said a State Bank of Bikaner and Jaipur Bank (SBBJ) function organised held to donate a school bus, ambulance, solar panel and a rescue vehicle (for tigers) under CSR.

"We understand the importance of social responsibilities. We give monetary help to organisations which in turn give their valuable time for conducting social welfare activities," she said.

The ambulance and the bus were donated to JW Global hospital and research center of Mount Abu and Rajmata Gayatri Devi Baal Niketan (school) of Jaipur respectively whereas the rescue vehicle was donated to an NGO working for the protection of tigers in Ranthambore.

A solar panel was also donated by the SBBJ to Akshya Patra foundation which will be used in setting up a solar kitchen for preparing food for children.

A senior official informed that the SBBJ spent Rs 7.20 crore on CSR during the FY'2013-14.

EDITORIAL OF THE DAY

  • Protocols need to be quickly put in place for the success of Digital India

    The government has kicked off Digital India initiative in style. Companies too have queued up in large numbers with bagfuls of money.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Simon J Evenett

Will Germany be able to deliver?

The BRICS aren’t the only countries whose stature has grown ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture