Patna: State Bank of India (SBI) has launched a scheme, in which at least one poor child will be adopted by every major SBI branch. The child will be chosen purely on merits and will belong to the areas falling under such branch. This scheme is expected to bring new hope to the lives of poor but talented children, who otherwise would have gone unnoticed mostly due to lack of finances and poverty.
Keeping with the spirit the SBI branch at the J D Women’s College has adopted a girl named Gulnaz Bano, aged ten years and the bank has decided to fund her studies. Daughter of Mohammed Sikandar, a betel -shop owner who resides at Sheikhpura, Bailey Road, Gulnaz was selected due to academic talent. She had secured 72 percent marks in her class third exams. The bank will provide Rs. 4,200 per month to the girl for her studies.
Reserve Bank of India had recently stressed the need for banks to undertake corporate social responsibility (CSR) as these acts inspire confidence and are vital for sustainable development. RBI has asked the banks to improve the quality of environment and social systems. Financial inclusion, spreading awareness about environmental calamities, empowering customers with proper knowledge etc. all will definitely go a long way towards a more synergized business model. Many private banks have well formed corporate social responsibility departments and this step by the largest bank in India is a recognition of the importance given by RBI towards this issue.
RBI is also actively involved in spreading awareness regarding money and financial jargon among the common masses by its two comics viz. Raju and the Money Tree and Money Kumar and the Monetary Policy. In addition to it, few films and interactive games are also available on RBI's website for kids to learn and enjoy. RBI has also decided to undertake a non-financial audit of the banks, which will gauge the work done towards corporate social responsibility.