Our CSR agenda during FY 2020-21
Our Corporate Social Responsibility (CSR) ethos is embedded in our fundamentals since the day the Bank was founded. We undertake CSR activities under the aegis of Federal Bank Hormis Memorial Foundation, which was set up by the Bank in October 1996 in fond memory of the Bank’s founder, Late Shri K P Hormis, and the Foundation was inaugurated by the then Finance Minister Shri P Chidambaram at Ernakulam. The Foundation acts as a Special Purpose Vehicle for executing the Bank’s CSR projects.
With a focus on developing the communities and promoting environmental sustainability to nurture the future, our CSR charter encompasses the key areas of Health, Education, Women Empowerment, Environment Sustainability, and others permitted by Schedule VII of the Companies Act, 2013.
The other CSR initiatives included in our CSR policy are:
- Poverty alleviation
- Contribution to the Prime Minister’s National Relief Fund or any other Funds set up by Government
- Education and skill development
- Providing financial assistance to technology incubators
- Gender equality and welfare of senior citizens
- Development projects for rural and slum areas
- Ensuring environmental sustainability and ecological balance
- Prevention of child abuse and child labour
- Protection of National Heritage
- Support to Swachh Bharat Mission
- Benefit of Armed Force veterans
- Promotion of Digitisation
- Promote rural sports, as well as nationally recognised Paralympics and Olympic sports
- Disaster Management
A glance at some of our key CSR initiatives
Promoting Education
- Federal Bank Hormis Memorial Foundation scholarships (Total amount spent – ₹ 141.83 Lakh, Beneficiaries – 293 students reimbursed in FY 2020-21)
- Federal Skill Academies (Total amount spent – ₹ 139.32 Lakh, Beneficiaries – 472 trainees from four Federal Skill Academies)
- Support to IIT Palakkad- Research and Development in the context of COVID-19 (Amount spent: ₹ 35.00 Lakh, project is at final stage of research, deployment of machines is pending)
Disaster Management – COVID-19
- Deployment of Mobile ATMs in Karnataka, Kerala, Maharashtra and Tamil Nadu for the safety of the general public
- Livelihood Enhancement - COVID Warden Initiative. (Amount spent: ₹ 512.06 Lakh, Beneficiaries - 322)
- Funding Community Kitchens at Aluva, Perumbavoor (Amount spent: ₹ 16.00 Lakh, Beneficiaries - 8,000 labourers per day for 10 days)
- Support to Keshav Srushti (Amount spent: ₹ 5.00 Lakh, Beneficiaries - 1,000 medical staff in hospitals of Mumbai)
- Support to Enhance Medical Facilities in CMC Vellore. (Amount spent: ₹ 10.00 Lakh - to procure more specialised equipment, PPE kits, Ventilators etc. to fight COVID-19)
- Support to Directorate of Health Services for purchasing 10,000 vaccine carriers for all the districts in Kerala (Amount spent - ₹ 78.00 Lakh)
- Support to COVID Vaccine Distribution Project in Maharashtra - for purchasing ice lined refrigerators for storing vaccines (Amount spent - ₹ 36.00 Lakh)
- Support to Mobile Vaccine Distribution Project in Ponnani, Malappuram and Nilambur areas of Malappuram District (Amount spent - ₹ 12.00 Lakh)
