CSR initiatives can be an invaluable way for companies to create value for their stakeholders while making a positive contribution to rural transformation.
SBI Youth for India is a CSR initiative of SBI Foundation, the CSR arm of state-run State Bank of India, India largest banking system, that aims to empower young rural leaders to drive social change and sustainable development in India. Corporate Social Responsibility (CSR) is becoming an increasingly important part of businesses today. CSR has the potential to empower those who are most in need, such as youth and rural populations.
By taking on projects that aid in youth development and rural development, businesses can help create a better future for these populations. Through donations, grants, volunteering and other initiatives, CSR can help provide access to education and employment opportunities by improving infrastructure and creating new job roles in the community. It can also provide mentorship opportunities for young people to develop their skills and become more employable while helping foster economic growth in the region. CSR initiatives have the power to change lives, increase social inclusion and improve quality of life for those who are often overlooked.
Young Demographics and Social Transformation
Young demographics can have a major impact on driving social development. From their idealism to their ambition, young people are often the most passionate drivers of change. They can bring fresh perspectives and innovative ideas to the table, helping to create solutions for larger societal issues. Young demographics are often in the best position to recognize problems in their communities that need solving and come up with creative solutions. By leveraging new technologies, they can develop strategies that optimize resources, reduce waste, and address inequalities. Furthermore, they can provide valuable insight into how best to engage with different demographic groups and use social media platforms to create awareness about important causes.
Young People in Driving Social Development
Young demographics play a key role in driving social development through their enthusiasm and knowledge of innovative technologies. They are also able to provide new perspectives on ways we can address global challenges like poverty or climate change through effective use of digital media. As they are the future of our society, they are able to bring fresh ideas and perspectives to the table. They are also more likely to be involved in initiatives that support social development, such as volunteering and campaigning.
Young People’s Tech Skills for Change
Young people have a unique ability to use the latest technology and digital platforms for the benefit of society. Through social media, for example, they can spread awareness about important issues or raise funds for a cause. Additionally, their passions and interests can influence how companies approach sustainability or other social issues.
Young demographics play a key role in driving social development and progress. They bring with them new ideas, fresh perspectives and innovations that can help to create a better society. Additionally, as the most connected generation to date, they are uniquely positioned to spread awareness of important issues and mobilize people to take action. Young people are also more likely to engage in volunteerism, which can help tackle pressing global challenges such as poverty and climate change.
SBI Youth for India Conclave: CSR of SBI
In these contexts, the SBI Foundation organized a two-day SBI Youth for India Conclave in New Delhi that brought together leaders and pioneers in the social sector, including social entrepreneurs, academia, civil society, and SBI YFI alumni. The Youth for India Conclave aimed to deliberate on societal issues in rural India, paving the way for accelerated rural development in the country.
Young Demographics Driving Social Development
Speaking at the Youth for India Conclave 2023, Sanjay Prakash, Managing Director & CEO of SBI Foundation, emphasized that the young demographic of India, which is educated and socially aware, will be the future change drivers for the nation. He also mentioned that the Youth for India fellows have fostered and implemented ideas for social development to drive on-ground change in rural India.
“The future change drivers for our nation will be its young demographic that is educated and socially aware. We have seen our Youth for India fellows foster and implement ideas for social development to drive on-ground change in rural India. As an organization, we are proud to fuel social enterprise and contribute to India’s G20 goals.” Sanjay Prakash said.
“Projects implemented by our fellows have helped to accelerate rural development, as also resulted in inclusive and sustained growth across the remotest corners of the country.”, he added.
Impact of SBI Youth for India Fellowship
The Youth for India Conclave showcased the last decade of the Fellowship and the impact it has made in the development of the rural sector. The SBI YFI projects have made significant contributions in areas such as Health, Rural Livelihood, Food Security, Environmental Protection, Education, Water, Technology, Women’s Empowerment, Self-Governance, Social Entrepreneurship, Traditional Craft, and Alternate Energy.
SBI YFI Sahyog – The Pitch Fest
The Youth for India (YFI) Conclave 2023 hosted the ‘SBI YFI Sahyog – The Pitch Fest’ which offered seed grants to promising non-profit/ for-profit ventures by the SBI YFI Alumni. Ventures that received grants were Aadiwasi Janjagruti, AIZHEIMERS, Eco-Circular India Foundation (ECIF), and NeoMotion. The winning ventures were selected based on the assessment and evaluation by an eminent jury that included experts from various sectors.
The Pitch Fest saw several promising non-profit/ for-profit ventures pitched by SBI Youth for India alumni. The ventures were evaluated by a panel of experts from various sectors, and grants amounting to approximately Rs 24 Lakh (2.4 million Rupees) were given out to the winners. The YFI Sahyog – The Pitch Fest 2023 awarded grants to several innovative ventures pitched by SBI Youth for India alumni.
Ventures Awarded Seed Grants at YFI Sahyog
Here are some examples of the ventures that received the grant:
Aadiwasi Janjagruti
Nitesh Bhardwaj, 2016-17 alumni, pitched this venture that focuses on using hyperlocal communications to bring social justice and awareness. Aadiwasi Janjagruti works with tribal communities in remote areas to provide access to information and promote social justice.
AIZHEIMERS
Rangan Ghosh, 2018-19 alumni, pitched this venture that is engaged in the design, testing, and prototyping of innovative AI/ML based platforms combined with deep science approaches for early-stage risk stratification of neurological disorders and mental health issues such as Alzheimer’s and depression. The platform aims to provide early detection and intervention for such disorders, improving the quality of life for patients and their families.
Eco-Circular India Foundation (ECIF)
Shravani Ladkat, 2016-17 alumni, pitched this venture that encompasses activities in the areas of health, livelihood, education, environment, and sustainability, all of which integrate to provide a better tomorrow. ECIF works towards creating a circular economy by promoting sustainable production and consumption practices.
NeoMotion
Siddarth Daga, 2016-17 alumni, pitched this venture that designs and manufactures life-transformative products for the physically challenged and elderly. NeoMotion aims to empower people with physical disabilities by providing them with assistive devices that improve their mobility and independence.
These ventures reflect the diverse range of social development issues and innovative approaches to addressing them that the YFI Sahyog – The Pitch Fest aims to promote. With the support of the SBI Foundation, these ventures have the potential to create a significant impact in the rural sector of India and contribute towards sustainable and inclusive development.
Interactive Sessions at the Conclave
The Conclave had several interactive sessions that included advisory forums, speed networking, lightening talk, formal and informal discussions between non-profits, think-tanks, fellows, and other stakeholders from across the country. The event was attended by well-known personalities such as Sanchita Mitra, National Coordinator, SEWA Bharat; Liby Johnson, Executive Director, Gram Vikas; Ronak Shah, Chief Executive, Seva Mandir; Dr Sunil Kaul, Founding & Managing Trustee, the ant; Badrish Mehra, Executive Director, CHIRAG among others.
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Social Sector Enterprises Receive Rs 30 Lakh in Funding
During the conclave, social sector enterprises founded by SBI Youth for India (YFI) alumni received a total of INR 3 million (Rs. 30 Lakh) in seed funding. The YFI programme empowers young, educated individuals to work on rural development projects in partnership with 13 partnering NGOs across the country. The funding received by the successful ventures reflects a diverse range of social development issues, and their innovative approaches to addressing these issues have the potential to create significant impact in the rural sector of India.
The seed funding will enable these ventures to scale their impact and drive on-ground change in rural India, contributing to the goal of sustainable and inclusive development in the country. The funding provided by the SBI Foundation through the YFI Sahyog – The Pitch Fest highlights the importance of investing in social entrepreneurship and innovation in the social sector to achieve long-term sustainable development.
Significant Impact Across 20 States
The SBI Youth for India programme has made a significant impact in the rural sector of India, with projects implemented in 20 states across the country. The programme provides a platform for young, educated individuals to work on rural development projects in partnership with 13 partnering NGOs, contributing to the goal of sustainable and inclusive development in the remotest corners of India.
Impact of Programme on Rural Development
The SBI Youth for India programme has made a significant impact on rural development in India since its inception. The programme provides a platform for young, educated individuals to work on rural development projects in partnership with 13 partnering NGOs across the country.
Promoting of Social Entrepreneurship
One of the key outcomes of the programme is that SBI YFI alumni have cumulatively started over 45 social enterprises across various sectors, which have contributed to sustainable development and job creation in rural India. These enterprises have focused on areas such as healthcare, education, sustainable agriculture, and renewable energy, among others. By promoting entrepreneurship in the social sector, the programme has helped to create a culture of innovation and social responsibility in rural communities.
Creating Social Change-Makers
Another important outcome of the SBI Youth for India programme is that 70% of SBI YFI fellows have gone on to pursue careers in the social sector, contributing their skills and knowledge to address social development challenges in the country. This is a testament to the impact of the programme in not only creating opportunities for personal and professional growth for the fellows but also in creating a community of social change-makers who are committed to driving change in rural India.
Contribution to Inclusive Development
Overall, the SBI Youth for India programme has made a significant contribution to sustainable and inclusive development in the country. By empowering young leaders and promoting social entrepreneurship, the programme has helped to drive positive change in rural communities across 20 states in India. The success of the programme highlights the importance of investing in young talent and innovation in the social sector to achieve long-term sustainable development.
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SBI Foundation and CSR of the State Bank of India
The SBI Foundation is the CSR arm of the State Bank of India, one of India’s largest public sector banks. It was established in 1983 with a vision to support sustainable and inclusive development across the country. The Foundation’s key focus areas include education, healthcare, environment, livelihoods, and disaster relief and rehabilitation. As a responsible corporate citizen, the SBI Foundation is committed to promoting social and environmental sustainability. It works towards creating meaningful and long-lasting impact in the communities it serves. The Foundation’s initiatives are guided by its core values of integrity, empathy, excellence, and teamwork.
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The SBI Foundation has partnered with several leading NGOs, government bodies, and corporate entities to implement its programs and projects. The Foundation’s flagship initiatives include the SBI Youth for India Fellowship, which aims to empower educated urban youth to work on rural development projects, and the SBI Gram Seva program, which focuses on promoting rural development through community-led initiatives. In addition to its core initiatives, the SBI Foundation also provides support to communities affected by natural disasters and other emergencies. The Foundation has played a key role in providing relief and rehabilitation to communities affected by floods, earthquakes, and other disasters across the country.
The SBI Foundation is led by a team of experienced professionals with a deep understanding of social development issues. Through its various initiatives and programs, the SBI Foundation has made a significant impact on the lives of millions of people across India. The Foundation remains committed to its vision of creating a sustainable and equitable future for all.
The SBI Youth For India Fellowship
SBI Youth for India Fellowship is a unique 13-month long program by the SBI Foundation, the CSR arm of State Bank of India. It provides a ready framework for the educated urban youth to work on rural development projects in partnership with 13 partnering NGOs across 20 Indian States. The program aims to create a platform for young minds to contribute to rural development and gain practical experience in social development
Conclusion
With rural communities facing changing social and environmental conditions, Corporate Social Responsibility (CSR) is emerging as an important tool for sustainable rural transformation. Companies are recognizing the potential benefits of investing in CSR initiatives to build stronger, more resilient rural communities. CSR activities can help contribute to improved food security, health and education, improved infrastructure and access to markets, job creation opportunities and poverty alleviation through increased household incomes. As such, CSR initiatives can be an invaluable way for companies to create value for their stakeholders while making a positive contribution to rural transformation.
