Message from the Managing Director & CEO
It gives me immense joy to present to you PRAGATI 2021, the concise report of ESAF Small Finance Bank’s Corporate Social Responsibility activities undertaken during the financial year 2020-21.
The CSR FY 2020-21 is the 3rd edition of the bank’s CSR activities, deploying Rs. 7.15 crore through two of our implementing agencies, ESAF Foundation and Prachodhan Development Services (PDS). While the government mandates that at least 2% profits must be utilised for CSR activities, we have the practice of deploying 5% of the profits for CSR activities, a reflection of our group’s commitment to serving the society.
At this juncture, I would like to thank both the implementing agencies ESAF Foundation and PDS for their commitment to executing the tasks aplomb. Our timely intervention that saved the lady from Majuli Island, Assam, who was desperate for a means of transportation as she was undergoing labour pain was a classic example of the impact of extending services in the nick of time.
As a social bank, we always believe in building the nation from its roots. As a result, our CSR initiatives are focused on the people at the bottom of the pyramid. This approach is in line with our motto of fighting the partiality of prosperity. We believe that the world is in search of financial peace, which could be the underpinning solution for societal peace. This is what we aim at by upholding our motto.
Pragati means a progressive direction. In the 30th year of founding ESAF, it is a joy to look back on the journey thus far. ESAF has been paving the way for economic progress by transforming the lives of millions using service as a tool for social transformation. The journey so far has undoubtedly been one of progress and positivity. We aspire to continue on this progressive path in the years to come.
ESAF SFB CSR is a creatively woven set of projects that have changed the lives of several hundreds of people by guiding them towards the road to prosperity, as detailed in the report, contributing to the achievement of several SDGs (Sustainable Development Goals) in the process.
Founder, MD & CEO, Esaf Small Finance Bank