The State Bank of India (SBI) has reported a substantial allocation of Rs. 502.32 crore towards Corporate Social Responsibility (CSR) for the fiscal year 2023-24, reinforcing its commitment to societal development. This year, the focus will intensify on making a measurable impact on the lives of the less fortunate, including economically, physically, and socially challenged communities across the country.
Of the total CSR budget, Rs. 301.24 crore will be managed by the SBI Foundation to execute projects directly aimed at community betterment. The bank has planned 173 CSR initiatives targeting 80 Aspirational Districts, reflecting a strategic approach to address the needs of underdeveloped areas.
As part of CSR commitment, the India’s largest public sector bank bank has allocated Rs 316.76 Crore for corporate social responsibility activities in FY2023.
