Project report

On

Corporate Social Responsibility

Initiatives

Submitted by:
Harshil Gulati(2K20/BBA/58)
Khushi(2K20/BBA/76)
Khyati Raghav(2K20/BBA/79)
Kritik Bhutani(2K20/BBA/82)
Puru Aggarwal(2K20/BBA/125)

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TABLE OF CONTENTS

INTRODUCTION ....................................................................................................................... 3
WHAT IS CORPORATE SOCIAL RESPONSIBILTY.................................................................. 4
GOVERNMENT RULES GOVERNING CORPORATE SOCIAL RESPONSIBILITY ................... 5
AXIS BANK PRACTICES ........................................................................................................... 6
AXIS BANK FOUNDATION........................................................................................................ 7
CSR TOWARDS ENVIRONMENT ............................................................................................. 9
SUSTAINABLE LIVELIHOODS INITIATIVES ...........................................................................10
FINANCIAL LITERACY AND INCLUSION ................................................................................12
CSR TOWARDS EDUCATION .................................................................................................15
CSR TOWARDS STAKEHOLDERS .........................................................................................17
TOTAL SPEND ON CSR IN LAST THREE YEARS ..................................................................20
ESG AND CSR GOVERNANCE COMMITTEE .........................................................................21
BENEFITS AND OUTCOMES OF CSR ACTIVITIES ................................................................23
REFERENCES .........................................................................................................................25

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INTRODUCTION
Axis Bank, India's third-largest private sector bank, offers a wide range of financial services to a
wide range of clients, including small and medium-sized businesses, large and mid-sized
corporations, and Agricultural and Retail businesses.

History

Axis Bank established in 1993 was the first of the new private banks to have begun operations in
1994 after the Government of India allowed new private banks to be established.Axis Bank Ltd.
has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank
was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC – Rs. 7.5 crore
and GIC and its four subsidiaries contributing Rs. 1.5 crore each.Axis Bank is one of the first new
generation private sector banks to have begun operations in 1994. The Bank was 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.

Senior Management
Amit Talgeri. President
Amitabh Chaudhry Managing Director & CEO
Anil Agarwal President
Ashish Kotecha Non Exe. & Nominee Director

Operations in India

As of 31 March 2022, the bank had a network of 4,758 branches and extension counters, 10,990
ATMs and 5,972 cash recyclers.
Axis Bank has the largest ATM network among private banks in India.
It even operates an ATM at one of the world's highest sites at Thegu, Sikkim at a height of 4,023
meters (13,200 ft) above sea level.

International business

The bank has nine international offices with branches at Singapore, Hong Kong, Dubai (at the
DIFC), Shanghai,[24] Colombo and representative offices at Dhaka, Dubai, Sharjah and Abu
Dhabi, which focus on corporate lending, trade finance, syndication, investment banking and
liability businesses.[25] In addition to the above, the bank has a presence in UK with its wholly
owned subsidiary Axis Bank UK Limited.

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WHAT IS CORPORATE SOCIAL RESPONSIBILTY

Corporate social responsibility (CSR) is a self-regulating business model that helps a company be
socially accountable to itself, its stakeholders, and the public. By practicing corporate social
responsibility, also called corporate citizenship, companies can be conscious of the kind of impact
they are having on all aspects of society, including economic, social, and environmental.
To engage in CSR means that, in the ordinary course of business, a company is operating in ways
that enhance society and the environment instead of contributing negatively to them.

Importance of CSR

1. Brand Value
A quick look at the top 10 brands in the world would suggest that responsibility is at the core of
their operations. A well-managed CSR program can help increase brand equity, awareness and
resonate with strong values.

2. Increased Sales – Customer Matters

Companies that lead with a purpose are perceived positively by the customers. According to a
study, 88% of the people surveyed would buy products from a responsible company. 85% of the
people said that they would support the company in their community.

3. Employee Retention and Engagement

Employees enjoy working for companies that have a positive public image. CSR initiatives
incorporate volunteering programs which foster values such as empathy and loyalty. This leads to
better team-work and camaraderie among employees. It is a well-known fact that happy employees
lead to low attrition.

4. Cost Savings
In the past, operating sustainably came at a huge cost to the company. Cost savings as one of the
factors in the importance of CSR would be surprising a few years ago. Responsible companies
have found new technologies that have reduced the operating costs.

5. Risk Management
It is no longer a debate that social and environmental risk affect businesses in a big way. In the
long term, these factors affect the growth strategies and are completely out of its control.

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GOVERNMENT RULES GOVERNING CORPORATE SOCIAL
RESPONSIBILITY

The government has asked companies having any amount in their unspent corporate social
responsibility accounts to set up a CSR committee. To this effect, the government has amended
rules governing corporate social responsibility (CSR), according to an official notification issued
by the Ministry of Corporate Affairs.

Under the Companies Act, 2013, certain classes of profitable companies are required to spend at
least 2 per cent of their average net profit of the preceding three financial years on CSR
activities in a particular financial year.

Under the CSR rules, amounts remaining unspent in a financial year relating to an ongoing project
as well as any unutilised surplus arising from the CSR activities are required to be deposited by
the company in a special bank account called the 'Unspent Corporate Social Responsibility
Account'.

The amended rules now provide that a company will have to comply with CSR related obligations,
including constituting a CSR committee so long as there is any unspent amount in its Unspent
Corporate Social Responsibility Account.

Prior to the amendment, CSR rules capped the expenditure of impact assessment that could be
counted towards CSR obligations of a company to 5 per cent of its CSR expenditure or Rs 50 lakh,
whichever is lower.

This limit has now been increased to the higher of 2 per cent or Rs 50 lakh, which will enable
companies to undertake comprehensive impact assessment for large scale CSR projects and
account for the same towards their CSR obligation.

Companies having a net worth of at least Rs 500 crore or a minimum turnover of Rs 1,000 crore
or net profit of Rs 5 crore or more during the immediately preceding financial year have to spend
on CSR activities.

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AXIS BANK PRACTICES
The Bank recognizes the importance of good corporate governance and corporate
social responsibility in promoting and strengthening the trust of its shareholders and
other stakeholders.

The CSR Policy shall be guided by the Bank’s corporate vision and the aspiration to be
the Bank of Choice for Customers, Shareholders, Employees and Community.

The Bank’s CSR Policy has been framed in accordance with Section 135 of the
Companies Act 2013 and the Rules framed thereunder. The Policy shall apply to all CSR
programs/activities undertaken/sponsored by the Bank or executed through Axis Bank
Foundation or through any other Trust/Society or implementation partner or any other
fund set up by the Government.

The primary purpose of the Bank’s CSR philosophy is to make a meaningful and measurable
impact in the lives of economically, physically and socially challenged communities of the
country through an integrated approach of development which focuses on creating
sustainable livelihood, promoting education and skills development, creating awareness
amongst public at large on public interest topics including financial literacy, facilitating and
providing access to formal banking channels for excluded sections, promoting
environmental sustainability, and supporting health and sanitation initiatives.

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AXIS BANK FOUNDATION

Axis Bank Foundation, the Bank’s CSR arm, continues its work towards providing sustainable
livelihoods and creating value through its varied, integrated rural programmes. Towards its target
of impacting 2 million households by 2025, a target it took in 2018, ABF has impacted over 1.03
million households, including trainees from its skilling initiatives, as on 31st March 2022, with
presence in 205 districts across 26 States and Union Territories.
Axis Bank Foundation (ABF) was established in 2006 with the objective of giving focus and
structure to Bank’s corporate social responsibility and corporate citizenship agenda.

The Foundation’s mandate is to enhance economic development for the marginalised

communities. These include communities heavily dependent on natural resources and hand skills
for their livelihoods and youth who are unable to find employment, especially the disabled.
Foundation works in partnership with NGOs to design and deliver its livelihood programs. The
program is based on a framework that comprises:

1) Needs of the communities

2) Build and strengthen the capacity of the communities to work towards their development goals,

3) Leverage Government programs,

4) Linkages with Financial Institutions and markets. The programs outcomes are also aligned to
achieve some of the Sustainable Development Goals (SGDs) set by United Nations in 2015 – Goal
1 - No Poverty
Goal 2 - Zero Hunger
Goal – 4 Quality Education
Goal 5 -Gender Equality
Goal 10 -Reduced Inequalities and
Goal 13 - Climate Action.

The Foundation is a strong advocate of people’s institution as a means for long term sustainability
and supported programs are strategically and financially designed accordance.

ABF is governed by a Board comprising of members who are from the Development sector and
Business leaders. The Foundation is managed by a team with development and corporate sector
expertise.

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CSR TOWARDS ENVIRONMENT

The environmental management of Axis Bank has made efforts toward resource conservation,
renewable energy, and energy efficiency. The bank - through its Green Banking Initiative –

➢ Encourages customers to sign up for e-statements and other electronic communication

forms in order to minimise paper use.

➢ Has adopted the green building concept for its office space (Bank’s corporate office ‘Axis
House’ is designed and constructed as a Platinum LEED-Certified “Green Building”) and
many other similar activities.

➢ Tree-planting projects are carried out (Plant a Sapling initiative)

➢ Uses renewable energy units for street lighting.

➢ Uses water collected from rainwater harvesting systems and a sewage treatment plant.

➢ Uses furniture made out of a high percentage of recycled materials.

➢ Initiated solar-based UPS for ten ATMs under its Independent ATM Deployment (IAD)
model.

Initiatives under Renewable energy focus

Investment in solar energy for their own operations – leads to boosting clean energy generation,
and reducing carbon footprint simultaneously.

During the year, we have added 2 MW of solar energy generation capacity to take the total installed
capacity to 5 MW. The solar power generation caters to 175 of our locations.

CFL lights replacement with LED lights

company-provided shuttle bus services for employees who used to travel through individual
vehicles.

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SUSTAINABLE LIVELIHOODS INITIATIVES

Under the overarching theme of “Sustainable Livelihoods”, Axis Bank Foundation’s current
programmes are aimed towards strengthening and increasing farm productivity, improving natural
resource management, providing alternate income generating options and increasing employability
and entrepreneurial skills.

Through the various initiatives across 21 states and 178 districts, Axis Bank Foundation has
helped impact and improve million livelihoods.

Here are a few initiatives under ‘Sustainable Livelihoods’ :

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Watershed Management : Watershed with its socio-political-ecological characteristics plays an
important role in determining and realizing economic, social, and ecological security; vital in
supporting progress for rural communities. Some of the key elements of the project design include
watershed management, agriculture productivity enhancement, aggregation of input and produce to
gain better market realization and collectivization. These are realized by building the technical
capacity and capability of the communities. Directed efforts are undertaken to improve community
led governance around access, equity and regeneration of natural resources that include water,
common land, forest produce and market interfaces.

Livestock Enhancement : These activities include poultry and duck farming and rearing of goats, pigs
and cattle. The program supports interventions such as animal health care, feed and fodder
management, selection and animal breeding, care and management of new born, milking techniques,
vaccinations, etc. Dairy development is also undertaken by building the value chain and linking the
producers with the market. The projects equips pashu sakhis (para vets) with adequate training to
provide basic veterinarian care to the livestock. To enable farmers, revolving funds are provided to
them for purchase of livestock. Axis bank also mobilize them by educating the farmers about various
government schemes available in their area and help them avail benefits
through it.

Vocational Training : ABF plans to bridge the socio-economic gap of increase in unemployment due
to lack of skills through its Vocational Training Projects, where the focus is on creating employment
opportunities by providing vocational skills training to school dropouts, unemployed youth of rural
India, tribal communities and women with the objective of providing them with a chance to lead self-
sustained and economically independent lives.

Livelihood for the Persons with Disabilities : Another imperative problem affecting PwDs is the
stigma which is associated with educating a special child resulting in impeding their growth.
ABF supports PwDs by creating opportunities through market linked trainings, supporting with
employability trainings placements to enables them to earn livelihood and make them financially
independent.

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 FINANCIAL LITERACY AND INCLUSION

Axis Sahyog

Axis Bank has been running a comprehensive Financial Literacy Programme since 2018 named
Axis Sahyog – a retail microfinance initiative to expand financial inclusion and deepen financial
literacy among women from economically weaker backgrounds, in both rural and urban India. The
programme specifically focuses on financial literacy campaigns, improved awareness on family
health and hygiene, and awareness on relevant government schemes, such as Pradhan Mantri
Mudra Yojana (PMMY) and Pradhan Mantri Jan Dhan Yojana (PMJDY).

During fiscal 2020-21, our Rural Lending vertical, in partnership with its BC partners conducted
Financial Literacy and Health Awareness programmes in 22 states and one Union Territory. This
year, the programme also ran a new initiative —Sachetana— to raise awareness on COVID-19-
related personal safety and hygiene.

Gender Inclusion

The Code of conduct & ethics of Axis Bank sets out ethical code, principles & addresses not only
the issues or a certain way employees need to work or act but also the ethical dilemmas that
employees are likely to meet in the course of their duties. Employees are trusted to use good
judgement in their day to day activities & to seek further information or assistance when they need
it. Also, these ethics & code of conduct applies to all employees, including the senior management
of the bank and its offices overseas.

Business Ethics Concepts

1. Gender Ethics
2. Sexual harassment & Discrimination
3. Environmental Ethics

Banks Practices :

1. Inclusion of LGBTQIA+

Axis Bank has released a charter of policies and practises to foster an inclusive workplace
for employees and customers belonging to the LGBTQIA+ community on the third
anniversary of the Supreme Court judgement decriminalising
Section 377.

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 The bank has initiated #ComeAsYouAre - a charter of policies and practices that embrace
diversity, equity and inclusion within the organization and for its customers.
For Employees,

● Regardless of gender, sex, or marital status, all employees can now list their
partners for mediclaim benefits. (It has also implemented a Human Rights Policy
that provides remedy for issues that employees from this community encounter.)
● Employees can dress in accordance with their gender/ gender expression.
● Employees can choose to use the restroom of their choice in accordance with their
gender expression or gender identity.
● It is also focusing on improving employee diversity at the workplace.

For Customers,

● Can open a Joint Savings Bank Account or a Term Deposit with their same sex
partner.
● Can add ‘Mx’ as a title. Customers who are gender non binary, gender fluid or
transgender persons will have the option of choosing their title from the option of
‘Mx’ in their Savings or Term Deposit Account.
● Can make their same sex partner a nominee in their Savings or Term Deposit
Account at Axis Bank.

“At Axis, we have put our focus on diversity, equity and inclusion that respects and recognizes the
importance of distinctive life journeys and several identities that extend beyond the paradigms of
gender,” said Rajesh Dahiya, Executive Director, Axis Bank.

2. Women in workforce

Axis Bank thinks that a diverse workforce is essential for creating a dynamic and engaging
workplace that promotes inclusion and creativity. The Bank is an equal opportunity
employer that has incorporated the concepts of "meritocracy, fairness, and ethics" into their
people management strategy. Their hiring strategies strive to provide career opportunities
to people of all races, religions, and genders.

● Re-Connect : Re-Connect is a programme that engages women alumni of the Bank

who have taken a career pause for various reasons and gives possibilities for those
looking to re-start their careers.

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 ● We Lead: Axis Bank – ISB Women Leadership Program : This program is run by
the bank in partnership with ISB (Indian School of Business). It's designed to
accommodate the Bank's diverse leadership talent.

● Embrace : It is yet another initiative by the bank, in association with the Axis Bank
Foundation, to give chances for differently-abled people by incorporating them into
their branch personnel.

Current workforce diversity

Source : Axis Bank CSR - People reports

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CSR TOWARDS EDUCATION

➢ Special Education for people with Multiple Disabilities

The key focus of the education programme is to reach out to children and young adults across India
with multiple disabilities, make the government and community aware of the lack of services and
knowledge about their disabilities and also help them get included in existing systems and services.
Apart from basic education, need based knowledge, consulting and supplemental training, they are
provided skills such as life skills, computer training
and / or arts and crafts which would further become a source of employment for them. These
learning techniques or classes not only give them a platform to improve their confidence but also
acts as avenues for development of cognitive, physical and socio-emotional skills along with
improved chances for livelihood.

➢ Supplementary Education
This programme is targeted to reach children in rural areas where child labor is prevalent and/or
the children who belong to socio-economically weaker communities. The programme aims to
improve the quality of teaching and learning in government schools, strengthening the stakeholders
namely the school management committees, parents, teachers, Gram Panchayat members to
monitor the school processes. It is based on conceptual learning so as to make learning easy, instill
confidence in children and generate interest in education at large. Apart from learning, life skills
trainings are also given for a holistic development of the children.
This programme also strengthens the existing infrastructure within the school system and helps
implement the provisions of Right to Education Act. ABF works along with the school systems
and ensures through extracurricular activities, a functional and exciting library, sports and various
competitions that schools remain an attractive place for children to come to daily.

➢ Remedial Education / Non-formal Education

Even though enrollment in schools are high as a result of RTE (Right to Education), there is a
significant percentage of students who continue to drop out of schools due to many reasons such
as economic constraints, migration, child labor and girl children taking care of siblings. The
programme on remedial education is targeted to reach children in rural India and urban slums
specially children with substance abuse and help them provide education which will be able to
mainstream them back to age appropriate classes. Students are given after-school support so that
they are able to continue to understand the subjects taught in classes well.

➢ Primary Education

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This programme is targeted towards the children of tribal communities who have now become the
first generation of learners in the region. It is targeted at improving the learning environment in
the region with the main focus on developing them as learning centres based on the provisions of
RTE. The programme seeks to enrich the existing curriculum through extracurricular activities and
sports thereby improving the learning levels of children in Standard 1 to 5.

➢ Secondary Education
The program on secondary education focuses on two groups – girl children from economically
disadvantaged families who are also victims of gender bias and children of sex workers in urban
areas. Through free education and care, these children are provided with opportunities to learn
various skills along with their secondary school education in order to help them be self-sufficient
and become socially empowered individuals in future.

➢ Balwadis / Aanganwadis
A key aspect of the Right to Education Act is to provide education for all including children with
various disabilities. Through the ‘inclusive Aanganwadi’ programme, ABF works to provide
children with multiple disabilities from the slums of Mumbai, a platform to learn and get into
mainstream education system faster. This programme works on three fronts – giving the children
with disabilities an opportunity to learn, creating awareness amongst the parents on the importance
of providing education to all their children and advocating with the government to include these
children within their system through trained teachers who can take care of their special needs.

➢ Vocational Training
Formal education system may not give space to children to think scientifically and/ or give them
opportunities to learn what they want to, resulting in high drop outs or lack of employability after
education especially in rural parts of India. The vocational training programme has helped
introduce skill based training and courses within the secondary school curriculum in a states of
India thereby enabling children to make informed choices and providing appropriate opportunities
of livelihood in future.

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CSR TOWARDS STAKEHOLDERS

The Corporate Social Responsibility (CSR) philosophy of the Bank is to make meaningful and
measurable contributions in the lives of socially, economically, financially and physically
excluded, disadvantaged and challenged communities of the country through an integrated
approach of development that focuses on creating opportunities for enhancing livelihood
opportunities, improving quality of education and skills development, creating awareness amongst
public at large on topics of financial literacy, health and hygiene and facilitating or providing
access to formal banking channels for un-banked sections of the society (financial inclusion),
promoting environmental sustainability, and supporting health and sanitation initiatives which
may be implemented either directly by the Bank or through Axis Bank Foundation (ABF) or other
implementation partners, as set out in the Annual Action Plan (AAP), approved by the Board of
Directors (the Board) of the Bank.

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Axis Bank focuses on building a fair, diverse and performance-driven culture that is guided by
their Core Values and committed to creating equal opportunities and driving the personal and
professional growth of its employees.

Their emphasis is on attracting the best talent, strengthening the commitment to diversity, equity
and inclusion and ensuring the safety of its employees and their families.

Our CSR philosophy has always been to make a meaningful and measurable impact to the lives of
economically, physically and socially challenged communities of the country through an
integrated approach of development. Our approach to community action aims to leverage our
national presence, our strengths as a financial institution, and the strength of collaboration to bring
positive and sustainable change in the lives of citizens in some of the most socio-economically
deprived parts of the country.

Overseen by our CSR Committee of the Board and guided by our CSR Policy, our interventions
adopt a multi-dimensional approach focusing on creating sustainable livelihoods in rural India,
promoting education and skills development, supporting financial literacy and financial inclusion

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of unbanked and underbanked sections of the society and promoting environmental sustainability,
and driven directly by the Bank, the Axis Bank Foundation or their experienced implementation
partners.

The Bank’s CSR Focus Areas are detailed as under:

i. Lives and Livelihoods - (Clauses (i), (ii), (iv), (x), (xii) of Schedule VII to the Companies Act,
2013) Creating sustainable livelihoods is an overarching theme that is pursued to contribute to
poverty alleviation and integrated development, especially in some of the poorest districts of the
country. The Bank also endeavours to promote women empowerment through such activities by
providing them skills and livelihood assets which contribute to improvement in their socio-
economic status. With the aim to enhance general well-being for a rural household, the Bank
endeavours to implement interventions towards improving Health & Nutrition.

ii. Financial Literacy and Financial Inclusion (Schedule VII - (ii), (iii), (x)) The Bank will promote
the cause of Financial Literacy & Financial Inclusion to reduce inequalities faced by socially and
economically backward sections of society. These may be undertaken singly and/or in conjunction
with the Government’s initiatives and schemes. The Bank will create awareness on personal
financial management aspects through financial literacy initiatives and provide the underserved
sections of society – especially rural population, urban poor and migrant workers etc. With access
to formal banking channels and products under financial inclusion initiatives. The Bank may also
facilitate the access to Government benefit schemes and social security schemes through banking
channels.

iii. Education (Schedule VII - (ii), (ix)) Under Education, the primary focus of the Bank is to
support educational initiatives that benefit underprivileged students and to provide access to
quality education for the students in remote locations. These initiatives will be channelized through
Axis DilSe Programs and students’ Scholarship programs with special focus on higher education
scholarships. The secondary focus is to support educational initiatives that help in strengthening
the educational system that includes Research & Development (R&D) support, supporting
educational technologies, research and incubation etc.

iv. Others (Schedule VII - (i), (iii), (iv), (xii)) a) Environment - The Bank endeavours to support
initiatives to ensure environmental sustainability, ecological balance, protection of flora and fauna,
animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air
and water. b) Relief and need based activities - Support relief measures during natural and other
calamities, including but not limited to contribution to the Prime Minister’s National Relief Fund
or to the National Disaster Management Authority or NGO(s) engaged in such relief measures,
supporting preventive and curative healthcare initiatives. The CSR Committee may consider and
approve such other CSR Projects as may be recommended by the Bank, subject to it falling within
the purview of Schedule VII of the Act.

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TOTAL SPEND ON CSR IN LAST THREE YEARS

The Bank has spent ₹138.25 crore on various CSR initiatives during FY 2021-22. The details of
the spending and associated initiatives can be found in the section “Annual Report on Corporate
Social Responsibility (CSR) Activities” on page 85-88 of the Bank’s Annual Report 2021-22.

The Bank remains committed to spending in each financial year, the mandated 2% of the average
net profits of the preceding three financial years as calculated under the provisions of Section 198
of the Companies Act 2013 for undertaking CSR project(s)/program(s) as set out in the CSR
Policy.

The Bank shall ensure that surpluses, if any, arising out of its CSR project(s)/program (s) shall not
form part of the business profit of the Bank and shall be ploughed back to the respective
project(s)/program(s). The Bank shall, in case of any unspent amount pertaining to an ongoing
project(s)/program(s), transfer such amount into an ‘Unspent CSR Account’ setup for the
respective financial year or transfer such unspent amount if the same pertains to other than ongoing
project(s)/program(s) to the Funds specified in Schedule VII respectively within the timelines as
specified by the Act and the Rules.

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ESG AND CSR GOVERNANCE COMMITTEE

Mr. Abhejit Aggarwal, also the vice president and head at Axis Bank leads the ESG and CSR
verticals, India’s third-largest private sector Bank. Working directly at the Board and CXO level,
he is responsible for ideating and managing the comprehensive ESG and CSR agendas of Axis
Bank and communicating impact across the Bank’s broad stakeholder spectrum.

Constitution of the CSR committee

● Axis Bank is the first Bank in India to constitute a standalone ESG Committee of the
Board
● The Bank has constituted an ESG Steering Committee comprising senior business leaders
to drive ESG integration across the organization.
● ESG Working Group has been formed to shape the Bank’s ESG-aligned portfolio
● DEI Council has been established to provide oversight on Diversity, Equity and Inclusion.
● To ensure accountability at the ground level, commitments have been announced for retail
& corporate business & a sustainable financing framework has been developed.

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ESG Credentials

Axis Bank is the first Indian Bank to constitute an ESG Committee of the Board which boasts
significant diversity.

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BENEFITS AND OUTCOMES OF CSR ACTIVITIES

The Bank and Axis Bank Foundation have conducted impact assessments of select programs in
the past by engaging reputed independent agencies/institutions.

Outcome:

The outcome of their work trickles down into all aspects of family life — leading to holistic
development. At a micro level, their work is changing people’s lives and creating ripples at a macro
level —person by person, community by community, village by village.

The formation of collectives and community groups has been at the core of their work. Developing
these community institutions is instrumental in ensuring access to credit, promoting rural
entrepreneurship, giving voice to women in decision-making, and setting up systems of
management for equitable access to resources. The collective energy of community groups
broadens livelihood opportunities, addresses village-level issues, and fastens progress along the
arc of long-term development. Over time, these systems of sustainability have multiplied the
opportunities and scaled our reach beyond the regions we are present in.

When people come together, development is accelerated not only within that community but it
fosters change in neighboring communities; leading to regional development.

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REFERENCES

https://www.axisbankfoundation.org/sustainable-livelihood/sustainable-livelihood.html
https://www.axisbank.com/csr#Governance

https://www.axisbank.com/docs/default-source/business-responsibility-reports/business-
responsibility-report-for-the-year-2021-2022.pdf
https://www.axisbank.com/docs/default-source/csr-reports-and-disclosures/axis-bank-
sustainable-bond-impact-report-2021-22.pdf

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