| CSR activities in brief
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Corporate social responsibility and sustainable Development initiatives are already incorporated in the Bank’s business strategies/ policies. As a part of this, Federal Ashwas, a Trust for establishing and running “Federal Ashwas Financial Literacy & Credit Counseling Centers” was established by Federal Bank and it was launched on November 11, 2009 by Dr. K C Chakraborthy. Dy. Governor, RBI. The trust is an initiative that works towards empowering the under-privileged with financial and credit counseling. Several loan schemes like Federal Ashwas Gold Loan scheme, Prathyasa Gold loan scheme etc were introduced as an initiative in this direction. As a measure to combine warehouse receipts with price hedging instruments and to access complex trade sector, tie–up arrangements with collateral managers were entered into.
SPONSORING SOCIAL, CHARITABLE INITIATIVES
The Bank has been associating with social and charitable initiatives for the betterment of the society at large. Some of the philanthropic activities the Bank associated with during the FY 2009-10 are:
1. Associated with Santhwanam –a project by Rotary Cochin Central for orphans.
2. Sponsored the event “Farming Export” at CIAL, for encouraging export of farm products.
3. Sponsored the project of Bharatiya Vidya Bhavan to provide regular income to women.
4. Sponsored programmes of Cancer Relief Society to raise funds
5. Sponsored Road adoption programme, Traffic Rules Awareness programme and Janamythri programme of Kerala Police
6. Scholarships disbursed to students of professional courses, in Kerala through Fedbank Hormis Memorial Foundation.
-- Pg 18 of Annual Report
Community Investment and Social Responsibility
Fedbank Hormis Memorial Foundation
Bank has instituted a public charitable trust by name Fedbank Hormis Memorial Foundation in 1996 to perpetuate the fond memory of late K. P. Hormis, the founder of the Bank. The activities of the Trust is directed towards inculcating better knowledge and awareness in the field of banking through training programmes, focused seminars, awards and so on.
Bank is the title sponsor of the quiz programme ‘Yuva Challenge’ (2009) in Manorama News channel. Last year also Bank was the title sponsor. The programme is known as ‘Federal Bank presents Manorama yuva Challenge’. The anchor is Sri.Mohammed Haneesh IAS, Director of Public Instructions, Govt. of Kerala. The telecast has been started in October 2009. Students of colleges and professional institutions from all over India and Gulf are participating in the programme.
At Federal Bank, we believe that Business exists in the society and any business requires social sanction for its survival and growth and organisations should have a social commitment, as they owe their existence to the society. All our social and mass banking initiatives are towards fulfilling such social commitments. We are in the process of leveraging the Bank’s strong rural presence for extending more and more services to the rural people.
Following measures are already initiated by us towards this direction.
- Implementation of financial inclusion products like No-frills SB account, General Credit Card, Micro- Credit etc.
- a.Utilisation of SHG members for marketing and servicing of the Bank’s products & services among rural masses using the Banking Facilitator Model.
- Launching of ‘Samrudhi’ Scheme through which the entire banking needs of the residents of selected villages (Grama Panchayats) are met by implementing various schemes of the Bank, so that these villages can be developed into model villages. These model villages are experimental samples for our innovations in Rural Banking and would help the Bank to demonstrate the effectiveness of its Rural Banking strategies and the Bank’s social commitment by showcasing these villages.
- Setting up a Training & Guidance Centre at Vythiri in Wynad District in collaboration with YMCA.
- Bank has launched the “Federal Ashwas Trust” and opened three “Federal Ashwas Financial Literacy and Credit Counseling Centers” in Alleppey District in December 2009, in association with Gandhi Smaraka Grama Seva Kendram (GSGSK), Alapuzha, the only NGO from Kerala figuring among the CRISIL top 50 MFIs in India.
- Bank has launched “Federal Prathyasha Loan Scheme” to provide credit to distressed poor / Small and Marginal farmers to prepay their debt to informal sector against collateral or group security.
The Bank is going to launch the “Federal Ashwas Trust” and to open three “Federal Ashwas Financial Literacy and Credit Counseling Centers” in Alleppey District during November 2009, in association with Gandhi Smaraka Grama Seva Kendram (GSGSK), Mararikkulam, the only NGO in Kerala among the top 50 MFIs in India.
IT Enabled Financial Inclusion
- Kisan Credit Card (KCC) accounts - This is a comprehensive scheme of the Bank to extend adequate and timely support to the farmers. This aims at financial inclusion of small and marginal farmers. It is ATM enabled with “Federal Haritha Card”
- General Credit Card (GCC) - To provide hassle-free credit to customers from rural and semi-urban centers based on their cash flow without insistence on security, purpose or end-use of the credit. This is in the nature of overdraft with no end-use stipulations and is also ATM enabled.
Rubber Producer’s Societies
With an aim to help the small rubber growers, the Bank has implemented a scheme for extending working capital finance to well run Rubber Producers’ Societies promoted by the Rubber Board. The scheme is designed to achieve financial independence of RPS, resulting in overall development and economic growth of small rubber growers. More than 1000 societies representing nearly a lakh of Small Rubber Growers have benefited by the scheme so far.
On the Health Front
Modernisation of the Medical Ward of Ernakulam General Hospital in association with Rotary Club of Cochin Mid Town.
General Hospital, Ernakulam is located between the Subhash Chandra Bose Park and the Head Post Office, Ernakulam. It is a multi specialty hospital with all the major and minor specialties attached to it and is the biggest General Hospital in Kerala. The hospital caters to the general public and close to 1500 patients visit the OP every day. Even though the bed strength is only 743, more patients are housed in the wards. Bank has donated towards the modernization of the medical ward.
Dialysis machine for Kerala Kidney Research Foundation, Kottayam.
The Kerala Kidney Foundation has established dialysis unit at the SH Medical Centre and St.Mary’s Dialysis Unit at Karippal Hospital, Kottayam and PVS Hospital Kochi, providing subsidized and free dialysis. The dialysis machines were donated by many individuals
Donating ambulance to Kadungalloor Grama Panchayath.
The Kadungalloor Panchayath, which consists of 20 wards and spread over 17 sq. Km. area faces challenges such as growing urbanization, increasing population and industrial pollution. There are occurrences of many health hazards and people living close to the industrial areas need frequent hospitalization. The Public Health Centre at Binanipuram in the Panchayath has no ambulance at present. The people have to depend other Hospitals/organisations for an ambulance service, mostly from places as far away from Aluva. In emergency situations this causes great difficulty. The Panchayath has very limited resources to buy an ambulance.
For the orphans
Financial assistance to Santhwanam- project for orphans.
Santhwanam is a project for the orphans. It is being implemented by Rotary Cochin Central. Kochi City had many orphanages without even the basic facilities, without access to proper sanitation and basic comforts like beds. These orphanages are forced to shift location every now and then from one rented building to another. Rotary in a collective decision decided to take up a mega project to construct a 4000 sq. ft building with all facilities to accommodate at least 50 of these children. Adequate conveniences such as play area, toilet facilities, kitchen, dining area etc. would be incorporated. The project is named as Santhwanam.
SOS Children’s Village
SOS Children’s Villages of India is an NGO working with children. They provide long term family like care to children who lost their parents. Every child who comes to SOS Children’s Village receives a ‘mother’, brothers and sisters, a home and all opportunities to grow into happy and successful adults. SOS has been working in 132 countries with SOS-Kinderdorf International as the umbrella organisation that was established in 1964. At present there are 38 children’s villages spread across the country.
Bank is proud to have associated with SOS (2006) in constructing a ‘Learning Centre’ at the Choondy Unit, 4 Kms from Aluva. It was constructed over an area of 1076 sq. ft. The centre comprise of a library, music room and computer lab.
For the environment
Aluva is the home town of Federal Bank. Bank has developed and is maintaining a highway garden between Thottakkatukara Junction and Bye pass Junction in NH47 at Aluva with permission from the National Highway Authority. The garden forms the divider between the incoming and outgoing lanes and it covers the approaches to the Marthandom Bridge from either side. The traffic lights at both ends and the high mast lamps at the bypass junction are also provided by the Bank
- Bank has been adjudged as the ‘Best Performing Bank for the year 2007-08 in Ernakulam District under the Kudumbashree programme of the Kerala State Poverty Eradication Mission’. Bank received the award for this from Shri. S. Sharma, Hon’ble Minister for Fisheries & Registration in a function held at Kolenchery on 16 May 2008 to celebrate the 10th anniversary of the Kudumbashree programme.
- Bank has been acclaimed as the ‘Best Private Sector Bank for implementing the PMRY Scheme’ in the state.
- Bank has been adjudged as the Best Private Sector Bank for priority sector lending including Financial Inclusion category across the country by Dun & Bradstreet.
Fedbank Hormis Memorial Foundation
Federal Bank has instituted a public charitable trust by name Fedbank Hormis Memorial Foundation in 1996 to perpetuate the fond memory of late K. P. Hormis, the founder of the Bank. The Trust is striving hard to inculcate better knowledge and awareness in the field of banking through training programmes, focused seminars, awards and so on. The trust and its activities were inaugurated by the then Union Finance Minister Shri. P. Chidambaram at Ernakulam on 18.10.1996.
The main objectives of the trust are:
- To provide continuing education and training to persons employed in Banking industry on aspects of banking, finance, economics and management.
- To inculcate better knowledge and awareness on developments in the field of banking and finance among the public at large through conferences and seminars.
- To establish libraries and public information related to banking, finance and economics.
- To establish educational grants / scholarships / awards to deserving students undergoing specialised courses in fields related to banking.
Over a period of time, this Trust has participated in various philanthropic activities for the benefit of the society at large including scholarships for students undergoing various professional courses.
The Trustees of Fedbank Hormis Memorial Foundation
|Shri. P.C. Cyriac, Trustee, Director, The Federal Bank Ltd.|
|Shri. P.R. Kalyanaraman, Trustee, Executive Director, The Federal Bank Ltd.|
|Shri. Raju Hormis, Trustee, Kulangara, Reshma Gardens, Kochi - 28.|
|Shri. P.V. Mathew, Trustee, Representing Federal Bank Officers’ Association.|
|Shri. P.P. Varghese, Trustee, Representing Federal Bank Employees’ Union.|