BOI’s CSR Commitment

By: Vinod Chandrashekhar Dixit
The public sector banks have overall highest contribution in CSR activities. Private sector banks and foreign banks are still lagging in this area. Bank of India (BOI) has supported the noble cause under CSR category for contributing its bit in restoring Environment Sustainability & Ecological Balance. (BOI) has always aimed at providing superior, proactive banking service to niche market globally, while providing cost effective and responsive services. Corporate Social responsibility (CSR) has been an inherited & inbuilt element of our fundamentals, right from the day the Bank was founded.It is a Bank that has well developed Corporate Social Responsibility initiatives in its place.
Bank of India believes that it is its foremost duty to contribute towards impacting the lives of various stakeholders like customers, employees, shareholders, communities and environment in a positive manner through all aspects of its operations, thereby serving the interest of the society at large. The Bank intends to be in step with the new thought of measuring performance on the basis of economic impact, social impact, and environmental impact in the task of inclusive growth, through Banking operations, towards the larger canvas of Nation building. BOI has been running the various Projects for imparting financial literacy and skill development for self employment
The Bank is engaged in the CSR activities mostly in the area of Swachhta Bharat Abhiyan, Rural Development, Environment sustainability, Educational program such as Beti Bachao Beti Padhao Abhiyan, Extending health care to poor/under privileged, socioeconomic development, sanitation, providing drinking water, improving
It was the dream of our eminent Statesmen that every individual Indian should be free from hunger, malnutrition, and should have basic necessities and be entitled to affordable education, healthcare facilities, equal opportunities in an enabling environment thereby resulting in reduction of social and economic disparity. Towards this larger goal, Corporates as major players in the economic development are also required to share this Social Responsibility, and Bank of India contributes its share to this worthy cause.
Assistance under Corporate Social responsibility has gained much importance after inclusion of new provisions in Companies Act ,2013 .The provisions of spending 2% of average profit during last 3 financial years is not applicable to Bank of India, it being established under Banking companies Act 1970 and not under Companies Act. However Bank of India is committed to assist under CSR for enrichment of environment and society on a sustainable basis.
The Bank has a strong portfolio of distinctive products & services and leverages technology to deliver and manage them in a personalised and customer-centric way. There is no doubt that BOI aims to create community goodwill by empowering vulnerable communities and give back to our society whenever possible through purposeful activities.