4th March 2024: Under the Corporate Social Responsibility initiative, SBI Capital Markets Limited (SBICAPS), which is an investment banking subsidiary of State Bank of India, has collaborated with the Maharashtra Government under their Chief Minister’s ‘Janakalyan Kaksha’ i.e. Public Welfare Department.
Under this initiative of SBICAPS and their NGO partner Sahakar Deogiri Foundation, which is a Mumbai-based NGO, they have agreed to distribute a multi-utility, which is portable desk bags to over 3000 under-privileged children of Anganwadi across Thane and Palghar districts. This initiative was launched in the state of Mumbai by Shri Eknath Shinde the Hon’ble Chief Minister, Maharashtra along with officials from the CM’s Janakalyan Kaksha, Shri Virendra Bansal – MD and CEO, SBICAPS, and other company representatives.
These multi-utility desk bags which have been designed to address the lack of infrastructure at Anganwadi in terms of inadequate seating arrangements, broken furniture, and an overall lack of favorable learning spaces. These bags are proposed to directly counteract these challenges by providing a practical and effective solution that transcends the limitations of existing infrastructure, addresses physical discomfort and ergonomic issues, enhances the overall learning environment, and contributes to improved focus and participation among students. Students from the economically weaker sections face challenges in accessing basic learning resources. The desk bags act as a leveler, providing an essential tool for education that is lightweight, easy to carry, and, importantly, addresses economic disparities.
The Maharashtra Government under the ‘CM-Jan Kalyan Kaksha’ has set up a CSR Cell to channel CSR funding through corporates in Maharashtra. This Cell has prepared an integrated CSR Plan based on various social needs in the state, across various areas like women empowerment, support to sections of the agriculture sector/farmers, health care, education, etc.
The SBI Group and its subsidiaries have always been fully committed to nation-building through their various businesses and support a range of social initiatives across India. SBICAPS, in particular, has been working across the country in areas of healthcare, education, environment, and poverty alleviation, undertaking several initiatives to make resources available to the most vulnerable sections of society, directly and through strategic partnerships with impact-making entities in the social sector in the most transparent way to create inclusive, sustainable development.