Lake rejuvenation and construction of toilet blocks and other initiatives in schools and colleges will be taken up on priority basis under the CSR projects of Karnataka Bank, Mahabaleshwara M.S., Managing Director and Chief Executive Officer, has said.
Speaking to The Hindu on the sidelines of a CSR initiative in Hubballi on Monday, Mr. Mahabaleshwara said that rejuvenation of lakes would be the number one priority under the CSR projects across India as it would improve the entire ecosystem in the surrounding area of the lakes and the bank believed in contributing towards creating a sustainable environment.
“We initiated a lake rejuvenation project at Sagar in Karnataka and rejuvenated the lake which has Sharavati Reserve Forest on one side and farmlands on the other side. Now rejuvenated lake has transformed entire ecosystem with even wildlife getting benefitted out of the project,” he said.
Mr. Mahabaleshwara said that the second on the priority list was construction of toilet blocks for government schools and colleges for the benefit of the students and staff. The others would be based on community related issues and the CSR support team of the bank would initiate them based on inputs from the local bank officials, he said.
In the current financial year, the bank had taken up 169 projects worth around ₹8 crore in various parts of the country. These projects were a mix of normal CSR projects and COVID-19 related initiatives. “During the lockdown and post lockdown period the bank has donated three hi-tech ambulances with all treatment facilities in Karnataka, which have saved lives of many. In Rajasthan we have sponsored ten learning centres set up to help the economically backward children who are deprived of education.” he said.
Mr. Mahabaleshwara said that the bank would be spending around ₹9 crore to ₹10 crore in the next financial year for CSR initiatives.
Enhanced efficiency in every field of banking had resulted in the bank in recording a net profit of ₹452 crore in the first nine months of the current fiscal. In the last fiscal bank had recorded a net profit of ₹432 crore, he said.
The Managing Director said that various initiatives, proper sensitisation of the customers had helped the bank in facing the challenging situation that arose due to COVID-19 pandemic.
Earlier Mr. Mahabaleshwara symbolically inaugurated the ventilator donated by the Bank to Tatwadarsha Hospital in Hubballi.
