Annual Report on CSR Activities

Annual Report on CSR activities for the financial year ended 31 March 2022

  1. Brief outline of Company’s CSR Policy

  2. Introduction

    The vision and philosophy of late Shri Jamnalal Bajaj, the founder of Bajaj Group, guide the Corporate Social Responsibility (CSR) activities of the group. He embodied the concept of trusteeship in business and common good, and laid the foundation for ethical, value-based and transparent functioning.

    Bajaj Group believes that true and full measure of growth, success and progress lies beyond balance sheets or conventional economic indices. It is best reflected in the difference that business and industry make to the lives of people.

    Through its social investments, Bajaj Group addresses the needs of communities residing in the vicinity of its facilities by taking sustainable initiatives in the areas of health, education, environment conservation, infrastructure and community development, and response to natural calamities. For society, however, Bajaj is more than a corporate identity. It is a catalyst for social empowerment and the reason behind the smiles that light up a million faces.

    It is this goodwill that has made us work towards ‘Activating Lives’.

    Guiding Principles

    The Company believes that social investments should:

    • Benefit Generations: Investment in resource creation’ for use over generations. The Company tries to identify sustainable projects which will benefit the society over long periods.
    • Educate for Self-Reliance and Growth: To usher in a growth-oriented society and thereby a very strong and prosperous nation, by educating each and every Indian.
    • Promote Health: Good health is a pre-requisite for both education and productivity.
    • Encourage for Self Help: To guide and do hand holding for self-help, individually and collectively to create excellence for self and for the team.
    • Be Focused: Activities should be focused around locations where it has a presence and hence can effectively guide, monitor and implement specific projects.
    • Target those who need it most: Care for the sections of the society, which are socially at the lowest rung irrespective of their religion or caste or language or colour.
    • Sustain Natural Resources: The Company encourages balanced development and ensures least adverse impact on environment – Growth with Mother Nature’s–blessings.

    Brief Contents of CSR Policy

    Section 135 of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014 have been amended substantially with effect from 22 January 2021. Accordingly, the CSR Policy which was framed by the Company on 14 May 2014 has got amended on 28 April 2021, with approvals of the CSR Committee and Board of Directors.

    The policy, inter alia, covers the following:

    • Philosophy, Approach and Direction;

    • Guiding Principles for selection, implementation and monitoring of activities; and

    • Guiding Principles for formulation of Annual Action Plan.

  3. Composition of CSR Committee

  4. During FY2022, Committee met three times on 19 April 2021, 13 July 2021, and 18 October 2021:

  5. Web-link where the following are disclosed on the Website of the Company :

    1. Composition of CSR Committee

    2. CSR Policy

    3. CSR projects approved by the Board

  6. Details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014, if applicable (attach the report) : Not Applicable

  7. Details of the amount available for set off in pursuance of subrule (3) of rule 7 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 and the amount required for set off for the financial year, if any : Not Applicable

  8. Average net profit of the Company as per section 135(5) : ₹ 21.76 crore

    • (a) Two percent of average net profit of the company as per section 135(5) : ₹ 0.44 crore

    • (b) Surplus arising out of the CSR projects or prograSurplus arising out of the CSR projects or programmes or activities of the previous financial years: Nil

    • (c) Amount required to be set off for the financial year, if any : NIL

    • (d) Total CSR obligation for the financial year (7a+7b-7c) : ₹ 0.44 crore

    • (a) CSR amount spent or unspent for the financial year:

    • (b) Details of CSR amount spent against ongoing projects for the financial year:

    • (c) Details of CSR amount spent against other than ongoing projects for FY2022 : NIL

    • (d) Amount spent in Administrative Overheads : NIL

    • (e) Amount spent on Impact Assessment, if applicable : NIL

    • (f) Total amount spent for the financial Year (8b+8c+8d+8e) : ₹ 0.45 crore

    • (g) Excess amount for set off, if any : NIL

  9. (a) Details of Unspent CSR amount for the preceding three financial years : Not applicable

  10. (b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): NIL

  11. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the financial year : Not applicable

  12. Specify the reason(s), if the company has failed to spend two percent of the average net profit as per section 135(5) : Not Applicable

  13. Rajeev Jain
    Managing Director

    Dr. Naushad Forbes
    Chairman, CSR Committee

Date: 28 April 2022

CSR at Bajaj Finance and Bajaj Finserv Group Companies


The very foundation of Bajaj Group was laid by the philanthropic instinct of Shri Jamnalalji Bajaj, our Group's founding father, who took the bold and unprecedented step of using business to serve society. He had advised that – ‘all business activities should look for opportunities for philanthropy and that these philanthropic contributions to the society should be above any thought of business gains.'


Need of the Hour

Our community outreach programmes are crafted to serve the emergent needs of the lesser advantaged beneficiaries of society. In fact, as a Group, we have always taken pride in being accountable not just to our own people but also to the communities around which we operate. In FY 2021, the Bajaj Group contributed Rs 170 crore towards the fight against COVID-19 to alleviate the immediate on-ground challenges, build capabilities, mobilise resources and upgrade healthcare infrastructure facilities in the surrounding communities. This included the installation of 12 oxygen plants to provide more than 5,000 LPM of oxygen supply to rural and urban hospitals along with respiratory support equipment to help augment their capacity in treating COVID-19 patients. The Group’s COVID-19 Response Fund was further utilized to set-up Pune's largest COVID-19 Care Centre in Viman Nagar with a capacity of 2,800 beds. During FY 2022, the Bajaj Group joined forces with the local government authorities to conduct large scale inoculation drives for communities in Pune and Aurangabad. More than 1 million doses of the COVID-19 vaccines were administered during those drives.


Enabling Easy Access for Disadvantaged Communities

Enabling access and affordability of healthcare treatment for children is an important area of Bajaj Finserv’s CSR activities, wherein, we extend our financial support to families of children in need of treating curable diseases or ailments that require prolonged treatment support, including cleft lips and palates, pediatric cancer, congenital heart disease, pediatric diabetes and epilepsy. We also support the medical expenses of specially-abled children. Recognizing infant mortality as a significant issue in rural and tribal areas, our Group launched several preventive healthcare projects, including pre-natal and post-natal care for mothers, proper nutrition care for children, mothers and teenagers, and raising awareness on prevalent health issues in these communities, particularly amongst teenage girls and women. In addition, our equipment grants provide the economically disadvantaged areas with the much-needed access to quality healthcare facilities.


Our Flagship Employability Initiative

Our employability initiative ‘BEYOND’ is aimed at upskilling the first-generation graduates from smaller towns and cities, to gain the right aptitude and attitude for making a mark in the financial services industry. The employability programme, started way back in 2015, has so far benefitted more than 20,000 fresh graduates across the country. This year, BEYOND touched a milestone of up-skilling a record number of 10,000 students with the fitting capabilities and a winning edge to compete for the limited job opportunities in the BFSI industry. Unlike the conventional skilling programmes, it prepares the students for more than 10 roles in the financial services industry. The programme also produces a unique talent pool of ‘industry trained graduates’ for the entire BFSI industry, which offers an excellent balance between cost and productivity, as compared to their traditional target segments.


Quality Education for All

Education is one of the most important drivers of the socio-economic prosperity and stability of a self-reliant nation, and our child education programmes aim to make quality education available to all children. Our support for school buildings and schools that cater to the children of migrant workers, mining workers, construction workers, etc., makes education accessible for the underserved communities. In order to improve the overall effectiveness of school education, the Group also facilitates additional training programmes for teachers through external instructors. To support kids with intellectual or physical challenges, the Group supports special education projects.


Income Generation for Tribal and Rural Households

Our community-based livelihood and skilling programmes help enhance the household income of rural, tribal and migrant populations. Through various programmes like farming, animal husbandry, fishery; forest-based activities like beekeeping; commons-based activities like goat and sheep farming, the Group provides self-help organisations and people with opportunities to generate income. It also supports youth skill-building initiatives to help them achieve financial independence through secure employment.