HDFC Bank boosts incomes, transforms lives in 1,100 villages under its Parivartan programme

India’s largest private sector lender by assets, HDFC Bank has recently transformed Kachudag, a tiny village in Jharkhand. The village located on the outskirts of the forest of Ramgarh district has earned the distinction of becoming the 1,100th village to be transformed under the HDFC Bank's Holistic Rural Development Programme (HRDP), Parivartan, which is the umbrella brand for all its social initiatives. 

Through this flagship initiative, HDFC Bank aims to create sustainable, social change. Through HRDP, the 63 families of this remote village who rely on agriculture for their livelihood, now earn an additional income of Rs 8,000 - 10,000, according to HDFC Bank statement. 

The HRDP, which has impacted the lives of over 14 lakh people across 16 states in India, seeks to better village life by focussing on improvements in 5 key areas, including 1. Education; 2. Skills Training and Livelihood Enhancement; 3. Natural Resources Management; 4. Water and Sanitation; and 5. Financial Literacy and Inclusion. 

“It is immensely satisfying to hear stories of Parivartan,” said Ashima Bhat, Group Head - CSR, HDFC Bank, adding “At HDFC Bank, we believe that for India to achieve inclusive growth, holistic development of our villages is important. Through HRDP, we are doing just that by creating sustainable communities across deeper geographies in the country.”

HDFC video on Parivartan

Under this programme, a thorough assessment of the village is carried out to understand its developmental needs. To address these needs in a sustainable and effective manner, the Bank creates long-term solutions in partnership with an NGO and the local community, the statement said. 

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Notably, the beneficiaries of HRDP include small farmers, youth, landless labourers, children and women.