Corporate Social Responsibility

Corporate Social Responsibility

Background

Electronica Finance Limited, India’s leading trusted financial partner for MSMEs, believes that giving back to the community is essential to their own success. We collaborate with NGOs, self-help groups, government bodies, and social enterprises to promote economic and social change for the marginalized and the disadvantaged sections of Indian society. Our initiatives are focused on improving access to education for children, providing skills training to youth and adults, creating opportunities for women entrepreneurs and supporting community initiatives.

Our CSR Approach

At the heart of our approach to Corporate Social Responsibility is a commitment to social impact and our belief that corporate success and societal progress are mutually reinforcing.

Our CSR approach is built on four core values:

Performance
Ethics
Sustainability
Innovation

Our CSR Initiatives

1. Education and Holistic Development
We are committed to the holistic development of the children we serve, and believe that education is a key component in this process. The company also focuses on developing young people holistically – not just academically but also socially, emotionally and physically.
Educate a Girl Child

 

In India, there are about 60 million girls who are out of school, and in many cases, the reason for this is poverty. The cost of sending a child to school can be prohibitively high for poor families, especially if they have more than one child. This is why we have embraced the cause of educating a girl child.

 

Successful CSR Outcomes:

 

  • 200 students are part of this program.
  • We does not just provide financial assistance; it also helps students shape their careers by arranging workshops and sessions led by eminent trainers.
Upliftment of visually challenged girls

 

We have joined hands with Niwant Andh Mukta Vikasalay, a local NGO, to help visually impaired girls develop confidence and become independent in all walks of life. It is an innovative project that aims to provide free education and vocational training for visually challenged girls from rural areas.

 

Successful CSR Outcomes:

 

  • The CSR initiative undertaken by us have transformed the lives of 3 visually challenged girls. We are overwhelmed with joy and extremely proud of these 3 CSR students hailing from remote villages of Maharashtra who have successfully secured fabulous jobs in Pune city.
  • They have not only achieved their career dreams, but also become role models for their own communities.
  • All of them come from small towns in the state of Maharashtra, with parents who had little formal education and challenging financial backgrounds.
Mission to educate slum kids

 

We have partnered with Khelghar, an NGO based in Pune that works to provide quality education to students living in slum areas of Kothrud. The NGO’s main aim is to help these children get quality education by providing them with all the necessary facilities and infrastructure.

A gift of mobility

 

We have donated a generous amount to Sadhana Vidyalay - A new school that was set up in a small town called Nelgunda situated in the Bhamragad Tehsil of Gadchiroli District. Though the town is surrounded by natural beauty, it lacks accessibility and educational opportunities.

Even after getting its first school, the village had no transportation to that facility. To address this problem and to improve the students' ability to reach their school, we chose to provide them with bicycles. We are proud to have assisted in the progress of those little feet!

2. Sustainable Livelihood and Skill Development
Our Sustainable livelihoods approach has been developed through a deep understanding of the needs of affected communities and an appreciation of the constraints they face. We believe that the key to a sustainable future is through skill development. This is the reason why we are working towards the betterment of our fellow citizens by providing them with the necessary skills required to lead a better life.
Providing Employment Opportunities

 

Electronica Finance Limited's Skill Development Program has been designed to provide training in different skills to the 10th-12th Pass students, who are not able to pursue their higher studies due to various reasons.

The Electronica Finance Limited Skill Development Program aims at providing employment opportunities to the youth, especially those who are from poor families and do not have any resources or support system at home.

The program uses a blended learning approach, which includes classroom teaching and practical on-the-job training. The program is designed in collaboration with industry experts and provides students with the opportunity to gain hands-on experience during internships at partner companies.

Encouragement and support to the Girl Child

 

The Electronica Finance Limited Scholarship is an initiative by the company  to help girls in need of financial assistance to pursue their education.

The scholarship will be awarded to a girl child from a family where at least one of the parents is working at our customer's end. The aim is to empower them and encourage them to pursue their dreams.

3. Women Empowerment
We are committed to women empowerment and have initiated several programs in this area. We have set up a separate fund for the purpose that invests in and supports projects that aim to promote gender equality. Our CSR initiatives are focused on education, health and livelihoods of rural communities, particularly women.
Sanitary products manufacturing - By the women, For the women

 

Meeta, meaning true friend, is a CSR project that we at Electronica Finance Limited are very proud of. Our goal is to provide low-income girls and women with free access to clean and safe sanitary products.

The mission of project Meeta is to create an opportunity for socio-economically backward women to learn how to make hygienic products and earn a living through the sales of such products. The program provides training, mentoring and financial support to help women.

Objectives:
  • To increase awareness among adolescent girls on menstrual hygiene, build self-esteem, and empower girls for greater socialization
  • To increase access to high quality sanitary napkins by adolescent girls in rural areas
  • To ensure safe disposal of sanitary napkins in an environment friendly manner
  • To help underprivileged women with employment opportunities

Company has partnered with two NGOs namely Seva Sahayog in Pune-Maharashtra and EARTH in North East Maharashtra to run sanitary napkin manufacturing, circulating product, creating awareness and so on.

NGO EARTH, which is active in the Javati tehsil of Chandrapur district Maharashtra, has received financial support from us to run a sanitary pad making plant. The plant produces revolutionary eco-friendly reusable pads that serve the tribal community.

Successful CSR Outcomes

 

  • The plant is run by women members who are trained by the NGO to make and sell these pads at a very affordable price.
  • The project has changed the lives of many girls and women in this tribal area. This project has made them self reliant and empowered them to fight against social taboos and superstitions.

Seva Sahayog has successfully started a sanitary pad-manufacturing unit at Pune. The volunteers from this NGO are conducting menstrual health and cleanliness awareness workshops for young women in and around Pune district.

The main objective of this project is to provide affordable sanitary napkins to all girls and women in the rural areas of Maharashtra. This initiative will help reduce the stigma associated with menstruation and promote menstrual hygiene among rural women.

Successful CSR Outcomes

  • Improved sanitary napkin distribution through education, awareness and capacity building
  • Reduced stigma around menstruation
  • Increased access to affordable sanitary napkins for all girls and women
4. Miscellaneous Community Initiatives
We are a socially conscious company, and our mission is to help make a positive difference in the communities we serve. We do this through volunteer programs, charitable donations and sponsorships, employee engagement initiatives and other activities. We are proud of our long-standing commitment to social responsibility and corporate citizenship.
Mid-day meal for underprivileged school kids

We are proud to contribute to “Annamrita,” the ISKCON initiative that serves nutritious, wholesome, hygienic meals prepared in hi-tech kitchens under the mid-day meal programme. The scheme aims to tackle malnutrition among children, especially those from disadvantaged backgrounds.  It nurtures the body while nourishing the soul.

Our support of ISKCON Annamrita reflects this belief by providing resources needed to ensure every child has access to nutritious food every day of their lives.

Successful CSR Outcomes:

When we first started this program, we were just looking to provide a little something extra for kids who didn't have the same resources as other students. But as we got further into it, it became clear that the mid-day meal was doing so much more than just filling bellies. It was giving these kids the fuel they needed to keep up with their peers and get through the day without missing a beat.

The mid-day meal program is something that makes us proud each day because we know how much it means to these kids—and it's so easy for us to give back!

On the occasion of 15th August (Independence Day) and 26th January (Republic Day), Electronica Finance Limited family members conducted a donation drive for clothes, toys, and books for people in remote villages in Chandrapur district. The donations were enough to make us all aware of how receiving and giving are inter connected.

Successful CSR Outcomes:

 

The exercise helped us realize the importance of charity and how it is a form of self-development.

It was an enriching experience to see how people from these remote areas were so thankful and happy to receive the donations from us. The joy on their faces made us realize that being helpful to others does not always require money or materialistic things but simply a kind gesture and helping hand will go a long way in making someone’s day!

Voice of our impact

Through the Udaan scholarship given by Electronica Finance Limited, I could manage my food and stay expenses while I was preparing for my bank exam. I cannot thank EFL enough for the scholarship I was selected for. Today I am working as a PO in a reputed bank and have adjusted to the role. My parents who could never go to school are very proud of me which makes me very happy. Now that I am financially stable I am supporting my sister's education and also manage to send some money home to my parents.
- Sunita Waskar