Finance Minister of India

2008.01.17

Initiatives by public sector banks in the area of corporate social responsibility I thought, today, I would share with you some initiatives taken by two public sector banks.

2. Firstly, Indian Bank has reported that in the nine months April-December, 2007, it has provided education loans to 30,747 students amounting to a sum of Rs.328.95 crore. The outstanding amount under education loans has crossed the Rs.1000 crore mark and it now stands at Rs.1,049.41 crore as on 31.12.2007. Besides, students seeking education loans may now apply to the Bank online at www.indianbank.in.

3. Secondly, Canara Bank, which completed its centenary last year, continues its impressive Corporate Social Responsibility (CSR) initiatives through the Bank's Centenary Rural Development Trust. The Bank is setting up Rural Development and Self Employment Institutes (RUDSETI) in different parts of the country. These institutes have made a visible impact on the lives of the people.

The Bank is taking another initiative through establishing Artisan Training Institutes. One such institute has been set up at Karaikudi, Tamil Nadu. The Bank intends to establish a new campus for the institute and equip the same with the state-of-art technology and machinery.