"The bank has recently received RBI approval to set up the UTI Bank Foundation, which is to be established under the Bombay Trust Act, an independent body to take forward the CSR initiatives of the bank," UTI Bank CMD, Mr P J Nayak, said here on Saturday .
UTI Bank has been supporting various causes of humane concern for the underprivileged sections of the society. "The genesis of the Bank's CSR endeavour goes back to 2004, coinciding with the 10th anniversary of the bank," Mr Nayak added.
Currently, the bank is supporting education for underprivileged children by providing financial assistance to upgrade infrastructure in government elementary schools, thereby catering to the educational needs of 600 children from low income group househo lds in the state of Tamil Nadu.
In the state of Hyderabad the bank has associated with Dr Reddy's Foundation to promote the 'Clothes Bank Drive' aimed at collecting clothes for street children, where the bank has offered its ATMs as a nodal point of collection, Mr Nayak added.
The foundation will receive a certain percentage of the net profit of the bank every year into its corpus and will also be allowed to raise funds from other sources.
No comments:
Post a Comment