KOCHI: Federal Bank has announced the formation of Federal Bank Hormis Memorial Foundation Trust, which will be the vehicle for all CSR activities of the bank henceforth in furtherance to the ideals of the bank’s founder the late K P Hormis.
The Trust headed by the bank’s chairman as the managing trustee, will have the MD & CEO, executive director, a board representative, CSR head and representatives of officers and staff members of the bank as trustees. The Trust will hereafter oversee, organise and execute the entire CSR activities of Federal Bank in compliance with statutory stipulations.
Abraham Koshy, chairman and Shyam Srinivasan MD & CEO, Federal Bank told mediapersons here that the Trust has decided to focus Pan India this fiscal, including developing skills amongst the youth, providing essential hygiene in schools and caring for children with special needs like learning disabilities and attention disorders.
The CSR Committee of the bank will evaluate the proposals based on the above taking into consideration the presence of the bank in respective geographies.
As its inaugural initiative, the Trust is launching a state-wide student debating competition called Federal Bank - Speak for Kerala on August 25. This youth engagement programme, lasting for two months, will provide a platform for the college students in Kerala to showcase their reasoning talents that will take them forward in the path of self-development, with the winner being adjudged as the ‘Federal Bank Youth of the year- Kerala.’ The winner will get a scholarship worth `3 lakh and a cash reward of `50,000, apart from being presented with a rolling trophy instituted in the name of the late K P Hormis.