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Social Initiatives
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Social Initiatives

Corporate Social Responsibility
Your Board of Directors believes that every organization must have over-arching and over-the horizon goals. In your own Bank, Corporate Social Responsibility (CSR) is not a new fashion but it is an old creed. Our founders and their successors understood and underscored the principle that a cooperative institution must always stay connected with the needs and aspirations of the society at large. CSR constitutes the umbilical cord that connects your bank to the society. Today the Bank is ninety five year old but the importance of CSR was understood presciently and intuitively by the leaders of your Bank in its infancy itself. The corporate memory is resplendent with many examples of the early awareness of CSR in your Bank. We at the Board of Directors can never forget the laudable gesture of late Wamanrao Varde and his associates on the Board then in spontaneously responding to the grave scarcity of foodgrains during the Second World War and in starting on behalf of your Bank a ration shop at Girgaum in Mumbai to make available foodgrains to all. At that time, Saraswat Bank was a wholly community Bank and no Saraswat of whatever calling ever asked late Wamanrao Varde and his colleagues as to how he could venture into opening of a ration shop when the Banking Law, the Cooperative Law and even the Bye-laws of the Bank had no provision whatsoever to facilitate its opening. This was so because all members of the community always understood that a co-operative institution must always have a social purpose..

Your Bank thereafter also started scholarships and apprenticeships for deserving students and through that process built the careers of several young men. CSR therefore has been at the heart of your Bank. Your Bank has been providing financial assistance to many social, educational and medical institutions by way of grants every year from its funds. From time to time your Board of Directors responded to national and natural calamities like flood, famine, earthquake etc., in a magnificent way and employees of your Bank at all levels also contributed their mite in equal measure towards such emergencies. Your Bank has therefore taken a few initiatives both at macro and micro level, which spell out our vision of Corporate Social Responsibility (CSR).
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Taking a serious note of the drought situation prevailing in various parts of Maharashtra, Saraswat Bank, India’s largest Urban Co-operative Bank which recently crossed a total business of Rs. 50,000 crore, has donated an amount of Rs. 1,00,00,000/- (Rupees One Crore) towards drought relief.

The Bank has donated Rs. 50,00,000/- (Rupees Fifty lakh) each to the Chief Minister’s Drought Relief Fund, Maharashtra and to the NAAM Foundation, an NGO started by actors Nana Patekar and MakarandAnaspure, specifically aimed at alleviating the impact of drought.

Mr. Gautam E. Thakur, Vice Chairman handed over the cheque of Rs. 50,00,000/- to Hon’ble Chief Minister of Maharashtra, Shri DevendraFadnavis at the CM’s residence, ‘Varsha’, along with his colleagues Mr. S.K. Sakhalkar, Chairman; Mr. Kishore Rangnekar, Director; Mr. S.K. Banerji, Managing Director and Mr. A.S. Jain, Chief General Manager.

Mr. Gautam E. Thakur and Mr. Kishore Rangnekar handed over another cheque of Rs. 50,00,000/- to Mr. Nana Patekar, Founder, NAAM Foundation.

Saraswat Bank is the largest financial institution run on co-operative principles in Maharashtra and is rightly called ‘Maharashtra’s Own Bank’. The Bank has always taken initiatives at the macro and micro level which spell out its vision of Corporate Social Responsibility (CSR) towards Maharashtra.

The Bank has always followed the principle of giving back to society, a part of what it has received. From donations to NGOs to absorbing family members of martyrs of the 26/11 terrorist attacks, the Bank has always upheld needy and worthy causes.

Reaching out to the needy
As part of CSR, at the macro-level your Board of Directors took serious cognizance of the plight of farming community and continuing suicides of farmers and with a view to instilling hope among farmers, we supported the
'Project Hope' of late Baba Amte's Maharogi Sewa Samiti at village Mulgavan, Taluka - Jhari Jamini, Distt. Yeotmal. We did so with a substantial donation of Rs. 1.00 crore to this project, where experts and volunteers are engaged in offering hope and succor to thousands of farmers by building check dams and initiating farmers into newer cultivation practices enabling them to bolster income generation and income supplementation.

Donation to Marathwada
Your bank donated Rs 1 crore towards the purchase and installation of water tanks in drought affected villages in Marathwada/ Vidarbha areas of the State of Maharashtra. The Donation was given to Rashtriya Sarvangin Gramvikas Sanstha, the institution is associated with Marathwada Pariwar
Encouraging the brave
Ms Krishna Patil the third woman to successfully complete the Mt. Everst Expedition, was granted loan waiver for Rs 30 lakhs  in recognition of her bravery, grit, determination and never die enthusiasm.

A young student all of 19 years pursuing graduation  but with different dreams, with a dream in her eyes to scale the world's highest peak was granted a loan of Rs. 30 lakhs by the bank to support her endeavour.
This assistance was important to her in the background of refusal by other sources where she had attempted for financial assistance. The loan was granted to her in a record 6 days in April 2009 after her father Shri. Madhav Patil, an existing client of our bank, approached the bank with the confidence that his 'Own Bank' would definitely assist his daughter in pursuing her dream.
Assistance to Self Help Group
Your bank believes in giving strength to the wings of people who are ambitious & have dreams in their eyes. Saraswat Bank provided assistance in the form of
micro-finance to the low income groups & Women Self-help groups to encourage them to become financially independent. Bank's Chairman Shri E.K Thakur has provided financial assistance in the form of Loan to more than 15000 to Micro and Small Scale industries.
Bank salutes the Martyrs:
Shri Ajit Gawkar, brave Indian soldier died while fighting intruders/enemies at the Jammu and Kashmir Border. In recognition of his services to the country, Saraswat Bank appointed his wife in the services of the 
Bank on the occasion of 61st Independence Day. 
In the dreadful terrorists attack in Mumbai on 26th November 2008, the first and hopefully the last of its kind,
many brave soldiers laid their life for the security of the people.

Amongst them were Shri. Tukaram Ombale,  Shri. Balasaheb Bhosale, Shri . Arun Chitte, Shri. Murlidhar Choudhari and Shri Ambadas Ramchandra Pawar. In  recognition of their services Saraswat Bank  appointed Next of Kin of these brave soldiers in the  services of the Bank. Saraswat Bank salutes the Supreme sacrifice made by the Martyrs in the 26/11 attack on Mumbai.

(The beneficiaries of discretionary recruitment mentioned here in above, have been working to the full satisfaction of their superiors in the Bank. The Board of Directors proposes to keep all such discretionary recruitment below 1% of the Bank's total staff, while ensuring that the officers and clerks so appointed are minimum graduates and office assistants are minimum SSC).
Bank recognizes sheer Grit and Bravery
Shri Gorakh Newale, a Municipal worker at Chinchwad in Pune was injured while saving the lives of many people from a tiger, which had entered human habitat. Your Bank immediately offered a medical assistance of Rs. 25,000 to Shri Gorakh Newale.
Shri Mohan Pandurang Redkar an engineer by profession hailing from Malwan taluka was in Mumbai for his mother's treatment. While in Mumbai, he was going by the Bandra
the Bandra seashore to a medical shop to bring medicines for his mother. At the seashore, he happened to see two couples drowning in the sea and he leapt to their rescue.

While he saved all the four lives, unfortunately he was drowned in the process. The news reports appearing next day saddened every one. His family at Malvan in Sindhudurg District was drowned in sorrow. There was no earning member in the family of six persons. It is at this juncture that your Bank representative reached Malvan and the Bank appointed Shri Kiran Pandurang Redkar brother of Shri Mohan Redkar in the permanent service of your Bank as a clerk.
Bank's contribution towards protecting cultural lineage of Maharashtra
As a macro level expression of CSR, Saraswat Bank in association with Maharashtra Times created an intellectual platform entitled "Shikhar Maharashtra" with an objective of researching , debating and finding ways and
means to deal with the many stubborn economic and social issues that Maharashtra faces today. A gala opening of Shikhar Maharashtra was held on 27th July 2007 at Ravindra Natya Mandir, Mumbai. The program went on for two days wherein the social and political leaders from Centre and State participated. This inauguration of the forum of 'Shikhar Maharashtra" will pave the way for bringing to the table the daunting problems that our State faces today. It is proposed that at an interval of every three months, a major issue facing Maharashtra such as farmers' suicides, malnutrition, foeticide, scarcity of drinking water, famine and hunger, etc. is discussed threadbare on this nonpartisan platform by soliciting the participation of intellectuals and social workers who are active in the field and thereafter recommendations are made to the Government on the remedies that may ameliorate the situation and pursued thereafter.
The RSS volunteers, who are associated with the publication "Vivek" are now engaged in bringing out chronicles on the lives of great men of all walks of life who have contributed to make Maharashtra what it is today. This is a laudable initiative, which documents the inspiring lives by thorough and serious research, and your Bank has sanctioned a sponsorship grant of Rs. 25 lakh to this project, the total cost of which is around Rs. 5.00 crore. The project is known as "Shilpkaar Charitra Kosh".
Late Annabhau Sathe was a peoples' poet-singer of Maharashtra. Some time back, the pitiable plight of his entire family living in indigence was depicted in newspapers. Your Bank's representative rushed to Sangli and in order to provide sustenance to the family, provided employment to the granddaughter of the late Lokshahir.
Employment to deserving  kith and kin of deprived  section of society
Shri Nitin Rajhans Bagwe - son of a mill-worker was born as a dwarf and after reaching manhood reached a height of barely three feet. It was with the help of surgeries that his height was artificially pulled upto four and half feet. With sheer determination he completed his education in commerce and also cultivated the hobby of photography. Your Bank initially appointed this boy in temporary capacity as a clerk and later he was absorbed in Bank's service on a permanent basis.
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