IDBI Bank Wins the Golden Peacock CSR Award for the year 2013

Mumbai, India, February 07, 2014 --(PR.com)-- Shri M.S. Raghavan, CMD, IDBI Bank along with Shri B.K. Batra, DMD, IDBI Bank received the coveted Golden Peacock CSR Award for the year 2013 at a glittering function held in Bengaluru on January 17, 2014. The awards were presented by Shri Nikhil Kumar, Hon’ble Governor of Kerala. Shri B. Ravindranath, ED, IDBI Bank was also present at the event. IDBI Bank was adjudged the winner in the PSU Bank category by an erudite jury set up by the Institute of Directors, New Delhi, for its outstanding achievements in the field of Corporate Social Responsibility (CSR) and for demonstrating consistent commitment towards upliftment of socially weaker sections of the society. The ‘Adoption of a Flood-affected Village in Ladakh’ project, which is a one-of-its-kind project undertaken by IDBI Bank in collaboration with TISS and Ladakh Autonomous Hill Development Council, came in for particular mention. The project employs an innovative approach based on direct involvement of the community in transforming a flood-ravaged village to a Model Village by end-2014.

Speaking on the occasion, Shri Raghavan said “CSR is an intrinsic component of our Bank’s corporate philosophy. We endeavour, as a responsible corporate citizen, to effect a meaningful and lasting improvement in the lives of the marginalized sections of the society through apposite pro-active intervention and support in consonance with our Board-approved CSR Policy and we are grateful that our Bank’s efforts in this area are being suitably recognized.”

About IDBI Bank

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1217 branches and 2101 ATMs. The Bank has an aggregate balance sheet size of Rs.2,97,451 crore and total business of Rs.3,86,145 crore as on September 30, 2013. IDBI Bank's operations during the six month period ended September 30, 2013 resulted in a half yearly net profit of Rs.499 crore. IDBI Bank earned a net profit of Rs.1882 crore during the financial year ended March 31, 2013.