Background

Union Bank of India is committed to its role as a responsible corporate entity not only by adopting ethical business practices but also by contributing towards economic development beyond its statutory obligations. Bank fully realizes its social responsibility to improve the quality of life of the local community and society at large. Bank sets aside 1% of published profits of the previous year for undertaking CSR activities.

Union Bank of India, with an objective of upliftment of the underprivileged communities and making a significant improvement in the living standards of the poor and marginalized, registered Union Bank Social Foundation (UBSFT) as a Trust on 2nd March 2006 and got registered section 12AA and 80 G of Income Tax Act 1961.

UBSFT Vision

• To foster public-private initiatives and to act as a catalyst in socio-economic development individually or in case of need with cooperation from the other agencies to accomplish our obligation to the society as a corporate citizen through improvement in Health, providing infrastructure & tools for the education of students and continuous & sustainable skill development.

UBSFT Mission

• Launch,implement, take part, fund or otherwise assist programs and projects catering to and otherwise interested in the socio-economic development of people to accomplish our obligation to society.

UBSFT Objective

To cooperate with Government bodies/NGOs/Persons in socio-economic programs to support the following broad sectors:

• Healthcare
• Education & skill development
• Women's empowerment
• Rural Development
• Restoration of Heritage Management
• Natural Calamities
• Small & Marginal Farmers, Artisans etc.

Board structure

• UBSFT Board is headed by Bank’s MD & CEO, with Executive Directors as Vice Chairman Trustees, other trustees include Bank’s General Managers and one independent trustee. Board provides directions following Union Bank’s thrust areas under CSR and undertakes a review of the activities every quarter. The directions of the Board are executed by the Chief Executive of UBSFT headquarters in Mumbai.
• Union Bank has also formed a CSR committee of the Board of Directors at the apex level to monitor the CSR activity of the Bank as well as UBSFT quarterly. The committee is Headed by MD & CEO, with Executive directors, one part-time non-official Director nominated under 9(3)(h) of the Banking Companies (Acquisition & transfer of Undertaking Act 1970 and One Shareholder Director elected under section 9(3)(i) of the said act as members of the committee.

Administrative Set up (At present)

• The day-to-day activities of the UBSFT & RSETIs are managed by the chief executive assisted by a Project Director, Development Managers and a Manager.

Projects/Programs undertaken by UBSFT

Union Bank Social Foundation (UBSF) undertakes participation in social causes for addressing larger issues viz. poverty, hunger, skill updation, community development and social justice. It synergizes the efforts of the Bank and social sector agencies towards sustainable growth and the development of social objectives at large.

Since 2006, in line with the objectives of the foundation several projects have been approved under various sectors. The purpose of the projects is geared towards, Community Welfare, Education, Health Care, Human Resource Development, Girl Child & Women Empowerment, and Environment Protection. Union Bank Social Foundation showed its unflinching commitment to the objective of corporate social responsibility (CSR) by creating enablers for social and community development.

UBSFT has successfully implemented various projects in various sectors across the country benefiting more than 236000 people belonging to socially and financially weaker sections of society during the last three years. Since its inception, UBSFT has carried out projects/programs across the country involving an amount of around Rs.40 crore.

UBSF has also successfully undertaken various relief activities at the time of cloudbursts/landslides in Uttarakhand and floods in Kerala state, Maharashtra, Karnataka etc.

The activities carried out by the UBSFT during the last 7-8 years have created a reasonably good impact on the targeted population and it has also raised the expectations of the public for the implementation of similar projects in future.

The objectives of CSR have been achieved by creating a positive impact on targeted groups of society.

Between April-2013 and March 2016 Trust had undertaken around 130 CSR projects/programmes covering different areas like

• Care & Rehabilitation
• Education
• Health
• Rural Development & Village adoption
• Skill Development
• Hygiene & Sanitation
• Physically disabled & specially enabled

An impact study was conducted through an external agency viz. Centurion University of Technology & Management, Bhubaneswar, on 28 major CSR projects/programmes covering 10 states across the country comprising an investment of Rs.1178.10 lakhs.

The study revealed that a positive impact on the lives of the target beneficiary has been achieved as under:

• The projects focused on creating critical infrastructure, which enabled the target beneficiary to leverage upon the strength and build their life prospects giving positive results. The products and services provided the needed coping mechanism to ease the target beneficiary from the hardships of life, as many of these beneficiaries belong to special categories who need special care. The projects ensured inclusive development by increasing the access of excluded communities to realise entitlements and accessing services. The health services offered by different projects have a clear bearing on the lives of the beneficiary where they could access timely and precise help.