“In a vast country like India, the government alone cannot provide employment to everybody. Government alone cannot remove the problems of sanitation and problems of healthcare as long as the corporates associate (with it). That is the reason the Companies Act, 2013 prescribes a mandatory CSR spend of 2% of average net profits. I love this mandate. Those who think it’s an imposition aren’t thinking right,” Deo Shankar Tripathi, MD & CEO, Aadhar Housing Finance, told The CSR Journal in an exclusive interview.
Tripathi brings to Aadhar over 38 years of commercial banking experience. He joined the Union Bank of India in 1977 as Probationary Officer and held diverse positions, managing varied portfolios before being elevated to the level of Top Executive Grade. Aadhar is a leading housing finance company in the affordable segment. Today, its 285 branches across 19 states covering more than 1500 locations help to reach more than 90% of the country’s low income population and provide credit solutions that make home-ownership accessible to everyone. It has enabled home ownership and better living to the lower income segment (LIG) across urban, semi-urban and rural parts of the country. Their CSR is an extension of our business philosophy of supporting nation building.
Tripathi is passionate about education and believes it’s the most essential tool for the nation to progress. He took us through their latest Corporate Social Responsibility programme, ‘Aadhar Kaushal’ started in collaboration with Mahendra’s, an NSDC (National Skill Development Corporation) approved training partner. Mahendra Skills currently has 19 Pradhan Mantri Kaushal Kendras and 1 India International Skill Centre in affiliation with the NSDC. Chetan Chauhan, former test cricketer and Minister-Sports, Youth Welfare and Vocational Training, Government of Uttar Pradesh, launched Aadhar Kaushal on the eve of Independence Day this year. Aadhar Kaushal envisages supporting the Government’s ‘Skill India Mission’.
Tripathi gave The CSR Journal his views on the Companies Act, 2013 and corporate citizenship in an exclusive video interview.