Leading private and public sector banks significantly ramped up corporate social responsibility (CSR) initiatives in 2024-25 (Apr-Mar), with HDFC Bank emerging as the top spender, deploying a record Rs 1,068 crore, compared with Rs 945.31 crore in FY24.
According to the annual report, the bank’s CSR strategy covers six thematic areas: Rural development, education, skill development & livelihood enhancement, healthcare & hygiene, financial literacy and inclusion.
HDFC Bank widens CSR focus
HDFC Bank introduced a seventh focus area this year — natural resource management — targeting renewable energy solutions, afforestation, and soil and water conservation. Its CSR footprint reached over 100 million beneficiaries and 214 CSR implementation partners.
HDFC Bank provides a comprehensive range of financial services, including wholesale and retail banking, treasury services, home loans, insurance and digital banking solutions. In 2023, the merger with HDFC Limited created a powerful financial conglomerate, significantly expanding its presence and product offerings. With a vast distribution network branches and ATMs, the bank serves millions of customers across urban, semi-urban, and rural locations.
SBI, ICICI, Axis and Kotak follow
State Bank of India (SBI) reported CSR spending of Rs 610.77 crore in FY25, benefiting more than 6.5 million individuals. Health and sanitation accounted for the largest share of SBI’s CSR allocation at 35%, followed by education (27%), and environment and rural development (11% each).
ICICI Bank, which had earmarked Rs 801 crore for CSR in FY25, could spent Rs 527 crore during the year. The bank cited delays in statutory approvals as the reason for the unspent allocation. Its CSR efforts focused on healthcare, ecological restoration, water conservation, and livelihood enhancement.
Axis Bank and Kotak Mahindra Bank spent Rs 427 crore and Rs 285.7 crore, respectively, on CSR.