Leveraging Local Strengths for Long-Term Stability
Axis Bank Foundation creates sustainable livelihood opportunities for rural communities in India by enhancing and diversifying their income stream.
In a free-flowing interview, Dhruvi Shah, Executive Trustee and Chief Executive Officer, Axis Bank Foundation shares about the Foundation’s core CSR philosophy - listening to the community to continuously improve programme impact. “It is not just about what we do but how we do our work and with whom, that helps us bring fresh thinking as a catalytic fund,” she shares.
Ms Dhruvi Shah
Executive Trustee and Chief Executive Officer
Axis Bank Foundation
Can you share about Axis Bank Foundation’s CSR initiatives for the current year?
Axis Bank Foundation (ABF) was established in 2006 to take forward the Bank’s initiative for social investing and for advancing the vision for sustainable development. ABF addresses the pressing challenges of economic exclusion through the Sustainable Livelihood Programme (SLP), instituted in 2011.
Our CSR strategy focuses on creating a basket of livelihood solutions for marginalized rural communities across India, helping them transform their lives to build economic security in the long-term. This approach stabilizes income; reduces distress migration, and increases the asset base, enabling families to meet their daily and long-term needs, including medical expenses and children’s education. To achieve this, ABF works with several entities, ranging from NGO partners, Government departments and community institutions across India.
Under SLP, we have undertaken over 45 projects with 30+ partners. These projects have improved the income of over 16 lakh families across 15,606 villages in 26 states.
In fact, in the financial year 2023-24, two of our projects were recognised on national platforms. During the 11th JSW, Times of India Earth Care Awards 2024, ABF received an award in appreciation of the state-level project impact in Chhattisgarh. The Foundation’s exceptional work in the space of agriculture in the state of Odisha was recognized through Sustainable Agriculture Awards 2023.
The Foundation also received the CII ITC Sustainability Award for ‘Excellence’ in Corporate Social Responsibility category twice
in the last 5 years.
Has there been a shift in the CSR issues you were dealing with almost a decade back?
Since its inception, ABF has remained community-centric. While the core approach remains the same, we have adapted to newer challenges faced by the communities over the years. The Foundation continues to develop contextual solutions that are culturally, socially and ecologically relevant and tailored to rural context, addressing specific needs of the community and leveraging local strengths for long-term stability.
Communities are encouraged to participate and take ownership of their development. Innovative strategies are being adopted, including training and providing access to information to enhance decision-making and leadership skills among community members. Our initiatives also introduce rural communities to modern farming techniques that enhance productivity while conserving natural resources.
To mitigate risks while addressing water scarcity, small land size and dependency on a single livelihood, we encourage adoption of technologies that can help in innovative farming practices including use of solar-powered micro-irrigation system; drones for spraying fertilisers; optimisation of land holding with multi-cropping system through the one-acre model and layering of livelihood through a basket of farming & non-farming income opportunities.
Committed to continuous improvement, we regularly update and deliver relevant information on agricultural practices, resource management, Government programs, and financial services.
By fostering an interconnected ecosystem, we strive to enhance grassroots engagement, promote community participation, and create transformative opportunities.
Axis Bank Foundation’s CSR initiatives are focussed on multiple areas such as women empowerment, rural livelihood, health, water & sanitation etc. How do you create a balanced approach among these?
Our primary objective is to create multiple sources of income for rural families to sustain and thrive in a self-reliant way in the long-term. Our programme provides them with a means to harness their resources better to meet their goals of today, manage risks and lead stable lives. By delving deeper into the breadth and depth of rural challenges, we attempt to foster holistic development in these regions.
Every activity designed to support the community has a ripple effect of outcomes that enables improved decision-making and leadership qualities among individuals and propels them into collective action towards development for all.
The collective action that begins with livelihoods is interlinked with perspectives of people across various age groups, their health and nutrition needs, shared natural resources, and gender equity. This helps us in better implementation of the programme as it includes voices, needs and aspirations of the communities.
Through partnerships with grassroots organizations, customized projects addressing the distinct needs of each community, and conducting regular impact assessments, ABF continuously improves the approach to remain responsive to local needs and regional contexts for projects across India.
How do you perceive your responsibility as a catalyst for positive change within the industry, and what specific outcomes or changes is the company aiming to influence?
The Foundation recognizes its responsibility of leveraging CSR to amplify impact by highlighting scalable solutioning for the problems it is committed to address. It is not just about what we do but how we do our work and with whom, that helps us bring fresh thinking as a catalytic fund.
We undertake work in collaboration with NGO partners, Government departments and community institutions, while taking into consideration local needs to create self-sustaining ecosystems that are managed by the very people they benefit. The ebb and flow of participants’ lives, and the improvisational nature of development work have been embedded into our programme so that there is enough space for variation.
Since 2011, in our mission to enhance livelihoods of rural communities, we have ensured that participants are not simply targets of interventions, but they are also taking steps to make changes in their lives, and communities. We ensure this by engaging them with the programme along the way.
When participants and their communities are kept at the forefront, we are able to seek and use their voices as a guide to continuously improve the impact of our programme.
What are some of the measurable and non-measurable impacts of your CSR outreach activities?
Our work has a direct impact on the livelihood that enhances quality of life and wellbeing of rural families in the long-term. Some of the priority impact of our CSR outreach encompasses rural livelihood and skill development that we measure by:
- Assessing rise in household income levels
- Number of new jobs created through vocational training
- Employment readiness initiatives
- Participation in community engagements
- Households linked to various schemes & entitlements
- Water harvesting potential created
- Area brought under irrigation
- Households supported for different agricultural practices in troduced across the seasons in a year
- Households supported for non-farming livelihood opportunities such as livestock
The qualitative impact of the wellbeing of rural families are measured by indicators that include:
- Number of households with access to drinking water
- Households with alternate/ improved cooking fuel
- Households where women and children have better health and nutrition awareness
- Number of health camps organized
- Life & health insurance services linked to households
There are many aspects of our work that have a ripple effect over a period of time
- ABF’s collective activities and mentoring to Self-Help Groups helps strengthens social bonds and co-operation and at the same time, boosts the self-esteem and confidence among community members, especially women
- Adoption of environment-friendly practices by just one family often inspires and shapes new behaviours among other community members which may not be immediately quantifiable but contributes to long-term shifts
- Gradual changes in attitudes towards education, health, and local livelihood-related practices fosters a culture of continuous improvement, innovation and behaviour change among the individuals, families and community members
I’ll like to end by highlighting that what started as a small step by the Foundation has become a critical piece of the long-term transformation that’s reshaping rural livelihoods. I hope ABF’s journey inspires others from Industry to take that one small step.
Dhruvi Shah is Executive Trustee and Chief Executive Officer, Axis Bank Foundation. She has over 24 years of experience spanning banking, microfinance and rural development. Before joining ABF in 2016, Dhruvi was with the ABN AMRO Bank N.V for 18 years, where she took up the responsibility of ABN AMRO's 'Sustainable Development and Not-for-Profit Management' vertical in 2008 when ABN AMRO Bank N.V. got rebranded as The Royal Bank of Scotland (RBS) N.V. She shaped the philanthropy and corporate citizenship engagement for RBS and established the RBS Foundation India, using her deep understanding of banking and microfinance to lead their operations, systems and processes.
She is also the curator and author of 'The Book of Aspiration' – a collection of inspirational memoirs from social leaders. As an advisor to multiple NGOs and a member of various working groups, Dhruvi passionately supports several social causes such as sustainable development, natural resource management, women empowerment and financial literacy.