New Delhi: SBI Life Insurance Company Ltd spent Rs 5.017 crore on healthcare under Corporate Social Responsibility (CSR) and contributed towards procurement of medical equipment, improving infrastructure of hospitals and institutions, preventive care measures for cancer and surgeries for the less fortunate people.
The average net profit of the company for the last three financial years calculated as specified by the Companies Act 2013 was Rs 920.64 crore and the company spent Rs 19 crore on CSR which is more than the prescribed corporate social responsibility (CSR) budget of Rs 18.41 crore during FY 2018-19.
The amount of CSR expenditure in last five financial years from FY 2015 to 2019 is Rs 65.23 crore.
SBI Life’s healthcare interventions aim to provide basic healthcare facilities available to poorest of the poor.
The CSR activities in the healthcare sector includes, providing medical equipments to medical institution, sponsoring cost of the treatment for poor patients, providing ambulance for poor patients residing in remote areas, improving health and nutrition status of tribal pregnant mothers and providing sanitation facilities.
More than 1.5 lakh beneficiaries in over 15 states have been benefited through various interventions in health section.
The healthcare initiatives by the company covers the cities of Ahmedabad in Gujrat, Bhubneshwar, Jajpur, Kalahandi in Odisha, Sindhudurga, Navi Mumbai, Mumbai in Maharashtra, Hyderabad, Secunderabad in Telangana , Bhopal, Dhar in Madhya Pradesh, Thiruvananthapuram, Vilangu in Kerala, Jaipur, Baran in Rajasthan, Guwahati in Assam, Chennai in Tamilnadu, Kolkata in West Bengal, North East, Mohali in Punjab, Patna in Bihar, Ramanathapuram in Tamilnadu, J&K, Dadara & Nagar Haveli, Daman & Diu, Goa, Haryana, Jharkhand and Delhi.
Corporate Social Responsibility Committee (CSRC) has been constituted for overseeing the Company’s CSR programmes, ensuring its compliance and reporting to the Board on a timely basis.
The CSRC comprises of Chairman, Raj Narain Bhardwaj and other members like Ravi Rambabu, Director, Dinesh Kumar Khara, Director, Sanjeev Nautiyal, Managing Director and Chief Executive Officer (CEO) Sanjeev Pujari, President of Actuarial and Risk Management, Manjula Kalyanasundaram and EVP & Chief of HR & Management Services, Sangramjit Sarangi.
The company constituted the CSRC of the Board of Directors in accordance with the provisions of Section 135 of the Companies Act 2013 read with the Companies Rules 2014, which drives the CSR programmes of the company.
The CSR Committee of the Board confirms that the implementation and monitoring of CSR policy, is in compliance with CSR objectives and Policy of the Company.