New Delhi: The Axis Bank Foundation (ABF), a CSR arm of India’s third largest private bank Axis Bank, is targeting to create two million sustainable livelihoods over the next eight years.
ABF had accomplished its target of a million sustainable livelihoods last year.
“Core to the approach is the belief that our long-term success depends on the progress of the communities and the people we serve,” Axis Bank CEO and Managing Director Shikha Sharma said in the annual report.
ABF, as part of its Sustainable Livelihoods programs, supports promotion and sustenance of rural livelihoods primarily in the rain-fed regions of the country.
Within rural livelihoods initiatives, ABF’s core focus areas are watershed management and agriculture productivity, livestock enhancement and financial inclusion.
These initiatives help in enhancing the agricultural output
in target areas through improved farm practices that lead to increased income.
Livestock enhancement programs support communities in better livestock rearing thereby creating an alternative stream of income.
ABF is also associated with programs that encourage involvement in non-farm handicraft activities such as embroidery work, bamboo work among others that supplement the farm income and improve the overall income.
Many of the ABF-supported programs are closely aligned with the govenrment’s rural development schemes such as the Mahatma Gandhi National Rural Employment Guarantee Act and Pradhan Mantri Krishi Sichai Yojana.
Axis Bank spent Rs 133.77 crore towards various CSR initiatives during the 2017-18 fiscal under the overarching theme of ‘Sustainable Livelihoods’.