Bangalore, 20th July 2023– Bharat Financial Inclusion Ltd. (BFIL), a 100% subsidiary of IndusInd Bank, has been honored with Best CSR Award for excellence in water conservation, presented by ASSOCHAM. This award was extended to acknowledge BFIL’s exemplary efforts in water conservation through its Pragat Watershed Initiative.
This project is a comprehensive initiative undertaken by BFIL in 12 villages of Kalaburagi district in Karnataka to protect and restore water-related ecosystems through community-based institutions, with a focus on climate-adaptive agriculture and sustainability.
The project is run through collaborative efforts of BFIL and the state government with a substantial amount of the project’s funding coming from the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA). BFIL provided technical and management support to the local government bodies and facilitated labor-oriented activities such as Earthen Bund, Agro-Forestry, Agro Horticulture, Public Open Well Renovation, Public Bore Well Recharge Structures, Tank Desiltation, etc.
The project that started in 2019 has led to 17,157 hectares of Watershed being restored and treated, conserving more than 30,649 million liters of water and helping more than 13,750 farming families with directly enhanced livelihood. An average of 16.22% increase in agriculture productivity has been noted since the beginning of the initiative with an average per capita income increase of 12.30% amongst the targeted households.
Commenting on the achievement J. Sridharan, Executive Vice Chairman, BFIL said, “Water scarcity is a pressing concern in many rural communities, and we are proud to have contributed to its resolution through Pragat Watershed Initiative. This award reaffirms our dedication to sustainable water resources, improving agricultural practices, and uplifting the overall well-being of the population.”
Mr. Srinivas Reddy Vudumula Chief People Officer & CSR Head said, “Water Conservation is an imperative for our times, and we are proud to have played a part in creating a positive change in the lives of the local communities through our Pragat Watershed program which is a joint initiative of Bharat Financial Inclusion Limited and Govt. of Karnataka. This award fuels our determination to continue striving for excellence in our corporate social responsibility endeavors. We are truly humbled by this honor and sincerely appreciate ASSOCHAM for its support in promoting and acknowledging our corporate endeavors that drive meaningful change. “
The ASSOCHAM Excellence in Water Conservation CSR Award highlights BFIL’s commitment to corporate social responsibility and sustainable development.
