Axis Bank

Estimated Prescribed CSR Budget FY 2018-19:  INR 119.88 Cr

Company’s Statement for unspent in FY 2017-18: The Bank was not able to spend the entire prescribed CSR amount of 2% of its average net profits of the last three financials years as few of the planned CSR activities had less than estimated utilization of funds.

Axis Bank is the third largest private sector bank in India. They offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. They have a large footprint of 2904 domestic branches (including extension counters) and 12,743 ATMs spread across the country as on 31st March 2016. The overseas operations of them are spread over nine international offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Colombo and Shanghai; representative offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses. They are one of the first new generation private sector banks to have begun operations in 1994. They were promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The share holding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.

Axis Bank Foundation

Axis Bank Foundation (ABF) was setup as a Public Trust in 2006 to carry out the Corporate Social Responsibility initiatives of Axis Bank. ABF has partnered with several NGOs to provide equitable education to various underprivileged individuals across 13 states of India. With their continued efforts to elevate the education levels in India, in 2011 Axis foundation ventured into the domain of providing sustainable livelihoods. These programs aim at alleviating poverty and providing livelihood options for economically weak households. Besides the philanthropic initiatives of ABF, the Foundation has setup a Volunteering program, encouraging the employees of the Bank to get involved and become socially responsible citizens. ABF is also actively involved in making steps towards reversing the effects of our ecological footprint, by implementing several Sustainability Initiatives.