SBI Foundation - State Bank's Big Push for Philanthropy

MUMBAI, Sept. 30, 2015 /CNW/ - State Bank of India (SBI) has set up SBI Foundation, a not-for-profit subsidiary for the Corporate Social Responsibility (CSR) activities of the entire State Bank Group.

Smt. Arundhati Bhattacharya, Chairman, said, "We in State Bank of India are the proud torchbearers of a glorious tradition of social service. Through the ages the Bank has been using a portion of its profits in order to reach out and help the under-privileged in many ways. We have therefore launched the SBI Foundation with the aim of ensuring that this tradition is carried out in as efficient and as impactful a manner as possible. We today pledge that our group will continue to work in the areas of Education, Healthcare, Livelihood creation and basically ensure that the millions of lives we have touched continues to grow and that under-privileged are enabled to live up to the potential that they all possess. SBI dedicates itself again through the SBI Foundation to continue with its service beyond banking."

SBI Foundation has signed a MoU with the UNFPA and is in discussion with the UN Women and the World Bank to enter into an understanding to work together on projects of mutual interest.

SBI flagship programmes:

SBI Youth for India: a unique one-year rural fellowship Programme initiated funded and managed by the State Bank of India in partnership with reputed NGOs of the country. It provides a framework for India's bright young minds to join hands with rural communities.

Rural Self Employment Training Institutes (RSETIs): The 117 (RSETIs) set up by the Bank across the country offer free, unique and intensive short term residential self-employment, vocational training, programmes with free food and accommodation to the rural folk with the aim of mitigating their unemployment problem.

SBI Children's Welfare Fund was created by the Bank in August 1983 to assist welfare projects for the benefit of destitute, orphaned, handicapped and under-privileged children. The Fund established with initial Corpus of Rs. 4.40 lac (approx. $ 6,600) stands presently at Rs. 10 crore (approx. $1.5 million). Another way to raise funds is the Bank contributes Rs. 100 for each shareholder who requests for a soft copy of the annual report, apart from matching the contribution by employees.

Sanitation under the Swachh Vidyalaya campaign promoted by the Govt. of India, the Bank has undertaken the construction of toilets in needy schools in a large no. of district in the country.

SOURCE State Bank of India

For further information: Vinod Pande,

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